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Norway's Cermaq rejects hostile bid from Marine Harvest
May 2, 2013 / 3:56 AM / 5 years ago

Norway's Cermaq rejects hostile bid from Marine Harvest

OSLO (Reuters) - Salmon firm Cermaq CEQ.OL rejected a $1.7 billion hostile takeover bid from Marine Harvest (MHG.OL), the world’s biggest fish farmer, saying it undervalued the company and came with unacceptable conditions.

    Cermaq will now go ahead with its own $732 million bid for Peruvian fishmeal firm Copeinca COPE.OL as it would better serve the firm than accepting a lowball bid, it said in a statement on Thursday.

    Reporting by Balazs Koranyi; Editing by Ken Wills

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