Tuesday, September 3, 2013

Indofood offers buyout of China Minzhong

An Indonesian instant-noodle maker, Indofood, has offered to buyout the embattled vegetable-processor, China Minzhong Food, for more than US$380 million. The mainland company was recently attacked by a research firm that accused it of fabricating sales figures. China Minzhong denied the charge but still saw its stock market value plunge by half in Singapore trading. But some analysts say the plunge in share price made it possible for Indofood -- already the company's largest shareholder -- to take the company private.