Shares in Dutch animal and fish feed supplier Nutreco NV have surged after the company announced a management-backed 2.69 billion ($3.43 billion) takeover offer from privately-owned trading company SHV Holdings.
SHV's 40-euro ($51) per share cash offer for Nutreco represents a 42-percent premium to shares' closing price Friday. Shares were up 38 percent at 39.02 euros in early trading Monday.
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Nutreco CEO Knut Nesse said Monday the offer was fair for shareholders and good for other stakeholders: SHV will allow the company to pursue its current business plan with a large measure of independence.
SHV says it wants Nutreco for its long-term growth prospects, particularly in emerging economies. It also represents a diversification of SHV's portfolio of businesses, which are mostly focused on energy and transport.