AMSTERDAM, Jan 30 (Reuters) - SHV Holdings on Friday again increased its offer for Dutch animal and fish feed maker Nutreco NV, and holdout shareholders APG and NN Group agreed to tender their shares to the new offer.
SHV said it would offer 45.25 euros ($51) in cash for each outstanding share of Nutreco, valuing the company at 3.18 billion euros ($3.60 billion).
It said the new offer was a 60 percent premium to Nutreco’s share price before a bidding war for the company began in October.
The family-owned investment firm SHV first bid 40 euros per share for Nutreco in October in a deal backed by Nutreco’s board. Nutreco then rejected a rival 43.20 euro bid from Cargill and private equity firm Permira Advisers LLP on the grounds that it would lead to a breakup of the business.
SHV raised its bid to 44.50 in December and the Cargill group dropped out of the bidding. But APG and NN Group, which together hold 17.3 percent of shares, had held out for a better offer.
SHV, which owns the Makro wholesale chain, holds 29 percent of Nutreco shares. It says it views the company as a good long-term investment due to its growth prospects in emerging markets. ($1 = 0.8832 euros) (Reporting by Toby Sterling; editing by David Clarke)