Mitsubishi Bids $1.4 Billion for Cermaq to Expand in Food
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Mitsubishi Corp., Japan’s biggest trading house, proposed to buy the Norwegian fishery Cermaq ASA for 8.88 billion kroner ($1.4 billion) to expand its foods business and become the world’s second-largest salmon farmer.
The offer is 14 percent more than Cermaq’s closing price on Sept. 19, Tokyo-based Mitsubishi said today in a statement. Cermaq’s headquarters will remain in Norway, it said. Cermaq recommended the offer be accepted.