Deals
Bachoco Buyout Stuck in Limbo as Mexican Regulator Delays Deal
- FTI says tender offer fair amid delay of regulator approval
- Lawyer warns minority holders of legal risks if tender derails
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A bid to buy out Mexican chicken processor Industrias Bachoco SA by the controlling family is stuck in limbo amid protests from minority investors and a delay at the country’s regulator to approve the tender.
The company’s stock has climbed toward the family’s offer price this year and has been trading just below it for the past six weeks, pushing shares up 9.4% this year in peso terms versus a drop of about 13% in the benchmark S&P/BMV IPC stock index.