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.

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