A Canadian seafood company has offered to buy out Tassal Group for $4.85 per share, the Tasmanian salmon giant confirmed in a market announcement on Tuesday.
The offer by New Brunswick, Canada-based Cooke Inc came after speculation about the mystery buyer of a share package in the Tasmanian company last week.
Yesterday, Cooke Inc revealed it was the owner of 5.4 per cent of Tassal's ASX-listed shares.
Tassel, which produces salmon in Tasmania and prawns in northern parts of Australia, also noted that Cooke Inc had made previous buyout offers to the board for $4.67 per share, and $4.80 per share.
The latest offer is a non-binding conditional cash proposal to buy 100 percent of Tassal shares. The deal is contingent on board approval at both companies.
Cooke Inc is the holding company of Cooke Seafood, founded in 1985 by the eponymous family.
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