Evening Business for 21 November 2011

The German bidder for Turners and Growers is adamant its 216 million dollar takeover offer is fair, despite conceding it's unlikely to gain full control. BayWa is offering $1.85 a share, and has secured the key holding of 63 percent investor, Guinness Peat Group, though some commentators say the price is too low to entice many other investors. BayWa's chief executive Klaus Lutz told business reporter, Amy Williams, that Turners and Growers is a natural fit with its own expertise in Germany's fruit sector.