Tassal Group Limited's board has stated in a statement that the company has an "attractive independent" future and is "well-positioned" to deliver growth in shareholder value. This comes after Cooke Inc. and related parties lodged holder notices. In more detail, Cooke has tried for the third time to take over the Australian salmon business.
According to Tassal, Cooke's proposal is subject to several conditions. Including Cooke´s board approval, the company's board approval, arrangements for key management, and entry into a Scheme Implementation Deed with exclusivity provisions. Also, Cooke has indicated that it has obtained Foreign Investment Review Board approval.
In addition, the board of directors and management team insist they will "remain focused on building on the company's long history and delivering on our strategic objectives".
Finally, Tassal confirmed Goldman Sachs is advising the company as its financial advisor. Also, Herbert Smith Freehills as its legal advisor.
Tassal Group Limited is a vertically salmon and prawn grower; and salmon and seafood processor, seller, and marketer. The company produces and sells premium salmon, prawn, and seafood products in both the Australian domestic and export markets.
The Group grows delicious, fresh, and healthy Atlantic Salmon and Australian Tiger Prawns, and through its De Costi Seafood business sources and processes a wide range of seafood. Tassal takes leadership role in sustainability in aquaculture and seafood sourcing. It employs over 1,700 people.