11 Sep 2009

Partial takeover offer by GPG for Tandou

12:13 pm on 11 September 2009

GPG is making a partial takeover offer for the Australian agribusiness company, Tandou.

The investment vehicle chaired by Sir Ron Brierley, is already the second-largest shareholder in the company, with a stake of 19.9%.

If GPG is successful in gaining 60% of Tandou, it says it will sell or close activities that are not producing an economic return to shareholders.

GPG says Tandou's business strategy needs urgent reconsideration.

It's offering 30 cents per share - 2 cents more than the company's shareprice on Friday morning.