ForFarmers No 1 in Europe after takeover of BOCM Pauls

ForFarmers has taken over UK based food group BOCM Pauls for €85 million ($112.872 million) and is now the largest feed producer in Europe. The contract between the two companies was signed yesterday March 28. The price of purchase is based on an enterprise value after deducting a provision for deficits of the pension fund and a deferred payment of the net proceeds of property for development. Read more ...

Lee Feed Mill Gains Most Since 2003 on Buyback

A Thai animal feed producer, Lee Feed Mill Pcl, jumped the most in more than eight years in Bangkok trading after the company said it will buy back its shares at above market prices. The stock surged 22 percent to close at 4.18 baht, the steepest gain since November 2003. It was the best performer on the 485-member SET Index, which climbed 0.7 percent to 1,076.29.

“The share price should climb further, close to the offering price in the share repurchase program,” Jitra Amornthum, the head of research at Finansia Syrus Securities Pcl in Bangkok, said by phone. “The company is also signaling that the current stock price is lower than it perceives” as fair value. Read more ...