Campari extends offer for Jamaica's Lascelles to Dec.10
MILAN Nov 30 (Reuters) - Italy's Gruppo Campari said on Friday it had extended to Dec. 10 its bid to take over the whole of Jamaican rum maker Lascelles de Mercado & Co , a deal which will boost its presence in the growing American market.
Campari, maker of the eponymous red aperitif, said in a statement that 96.3 percent of Lascelles' ordinary shares had been tendered.
In September Campari said it had agreed to buy an 81.4 percent stake in Lascelles from ailing Caribbean state-owned conglomerate CL Financial. Its offer valued the target at $414.8 million.
Campari also said at the time it was making a $4.32 per share offer to remaining Lascelles minority shareholders in a bid initially due to end on Nov. 30.