April 25, 2018 / 9:24 PM / in a year

CORRECTED-NZ's Tegel Group receives $309 mln buyout offer from Philippine poultry firm

(Corrects location of Bounty Fresh Food’s unit to New Zealand, not Australia)

April 26 (Reuters) - New Zealand’s Tegel Group Holdings Ltd said on Thursday it received a NZ$437.8 million ($309.44 million), or NZ$1.23 per share, takeover offer in cash from Philippine broiler complex operator Bounty Fresh Food Inc’s New Zealand unit.

Bounty would also pay an additional NZ$38,427 for the company’s performance rights shares, Tegel said in a statement, adding that it was also permitted to pay a dividend of NZ$0.041 per ordinary share before the offer closed.

$1 = 1.4148 New Zealand dollars Reporting By Rushil Dutta in Bengaluru; Editing by Lisa Shumaker

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