Select Harvest (ASX:SHV)
has received a non-binding and highly conditional takeover proposal by Mubadala Investment company for $5.85 per share.
Australia's largest almond grower says the indicative proposal values its business at $430.6 million.
At the same time, Select Harvest also announced plans to raise $65 million through a institutional placement and share purchase plan.
The company says at this stage it’s not in a position to provide due diligence or engage with Mubadala.
Shares in Select Harvest (ASX:SHV)
are trading 20 per cent higher to $5.04.