Despite 62.5% of Cermaq’s shareholders voting in favour of the bid for a controlling interest in Copeinca, it was not enough for the required two-thirds majority.
However, following Cermaq’s annual general meeting today, chairman Bård Mikkelsen said that as a significant majority of the company’s shareholders did vote in favour of the transaction the board will look at different courses of action for Cermaq to be involved in Copeinca.
“Based on what the board and the management have learned from discussions with shareholders before the general meeting, this voting is more a general expression of the desire to create an opportunity for an offer on all shares in the company than an opposition against the Copeinca transaction as such. The Board will take this into account in its considerations of strategic alternatives”, he said.
Meanwhile, Marine Harvest issued its own statement today, confirming that if Cermaq’s shareholders voted against the Copeinca transaction, it would launch an offer for all outstanding shares of Cermaq of minimum NOK 105 per share (including the proposed NOK 1 dividend).
The statement said that the offer will be conditional on Marine Harvest following completion of the offer owning at least 33.4% of all outstanding shares in Cermaq.
Mr Mikkelsen said, “The Board expects that Marine Harvest now will present an offer for the shares in Cermaq.
“The Board will thoroughly assess potential higher offers which reflect the underlying values of the company and has a structure which aims to get a broad support from Cermaq's shareholders.”
