Bounty Holdings buys over 603 893 Tegel shares

Company News

by Anna Napoli

Tegel Group (ASX:TGH) has provided the market with an update on its proposed takeover from Bounty Holdings.

Bounty has acquired over 603 thousand fully paid ordinary shares in Tegel.

The purchase of shares by Bounty was other than under the offer at a weighted average price of $1.16.

Bounty Holdings is the second largest poultry company in the Philippines.

Shares in Tegel Group have jumped 5 cents since the offer and closed almost 1 per cent higher at $1.08 yesterday.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.