Evening Business for 21 November 2011

The German firm BayWa says it's happy with a majority stake in Turners and Growers, and doesn't intend to increase its takeover offer to gain all of the company. Guinness Peat Group has already accepted the $1.85 a share offer for its 63 percent stake in Turners and Growers, which will net it 137 million. BayWa's chief executive, Klaus Lutz, says the offer price, which values Turners and Growers at 216 million dollars, is fair.