Rebekka Glasser Herlofsen,the Cermaq chairman said in a statement that Cermaq and Mitsubishi will merge to become the world’s second largest salmon farming company, according to the American “Wall Street Journal.
Cermaq Board of Directors has unanimously decided to recommend that shareholders accept this Mitsubishi NOK 96 per share in cash to acquire all the issued shares of its proposal. Cermaq said in a statement that the acquisition of the relevant announcement will form attachments to publish this recommendation in the Oslo Stock Exchange.
The complete details of the Offer, including all terms and conditions, is included in an offer document expected to be distributed to Cermaq shareholders during week 39, following approval by the Oslo Stock Exchange.
Mitsubishi Corporation will build on Cermaq’s current organization and employees, and Cermaq’s headquarter will remain in Norway.
Cermaq is one of the world’s leading companies in farming of salmon and trout, with operations in Norway, Canada and Chile. In 2012 the farming business had sales of around NOK 3.3 billion, and a total harvest volume of 120,000 tonnes. Cermaq’s feed business unit EWOS was sold in 2013. Cermaq is listed on the Oslo Stock Exchange. The company has its headquarters in Oslo, Norway.
Mitsubishi Corporation is Japan’s largest trading company (sogo shosha) and a member of the Mitsubishi keiretsu. Mitsubishi Corporation employs over 60,000 people and has seven business segments, including finance, banking, energy, machinery, chemicals and food.