Select Harvest receives takeover offer and plans $65m cap raise

Company News

by Jessica Amir

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.

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.