8 Feb 2012

Takeover closing date extended

5:53 am on 8 February 2012

A German company seeking to buy Turners Growers has extended the closing date for its full takeover offer for four weeks.

BayWa launched a $216 million dollar takeover offer last year, after securing Guinness Peat Group's 63% holding.

It now has acceptances giving it 69% of the company.

The offer was due to close on Wednesday but has been extended to 7 March.

The last date that BayWa may declare the offer unconditional has also been extended by 28 days, 6 April.

However, BayWa will declare the offer unconditional on the day that the required consent from the Overseas Investment Office is received.