5 Dec 2011

Kiwifruit merger off

10:21 am on 5 December 2011

Satara and Seeka have shelved plans to amalgamate.

The two Bay of Plenty kiwifruit companies had proposed a merger, partly to help them better cope with the PSA vine disease.

The proposed deal, would have involved Satara shareholders getting one Seeka share for every 3.14 shares they have in Satara.

But Satara shareholders voted against the deal.

The companies say they are pursuing business as usual instead.