Baker & McKenzie is advising Thai-based Mitr Phol Sugar on its off-market takeover bid for Australian-based MSF Sugar, advised by Mallesons Stephen Jaques.
Following completion of its satisfactory due diligence investigations, MSF Sugar's major shareholder, Mitr Phol, yesterday (16 November) announced it intends to make an all cash offer for MSF at $4.45 per share.
The offer values MSF at approximately $313 million.
The board of MSF has indicated that it intends to recommend the offer to MSF shareholders, in the absence of a superior proposal and subject to an independent expert determining that the offer is fair and reasonable.
The Mallesons team is being led by Brisbane partner John Humphrey together with senior associate Rhys Casey.