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The latest announcement is out from Clean Seas Seafood Limited ( (AU:CSS) ).
Clean Seas Seafood Limited has received a non-binding proposal from Yumbah Aquaculture Ltd to merge through the acquisition of 100% of its shares via a scheme of arrangement. This proposal offers Clean Seas shareholders $0.14 cash per share, with an alternative option to receive Yumbah scrip, representing a premium over the recent share prices. The board has established an independent committee to evaluate this proposal, which is subject to several conditions including due diligence and regulatory approvals. If successful, this merger could reshape the aquaculture industry landscape, offering strategic benefits and enhancing the company’s market position.
More about Clean Seas Seafood Limited
Clean Seas Seafood is a fully integrated Australian aquaculture business known for its breeding, farming, processing, and marketing of Hiramasa or Yellowtail Kingfish. The company is a global leader in sustainable aquaculture practices and is recognized for its innovation, being the largest producer of aquaculture Yellowtail Kingfish outside Japan.
Average Trading Volume: 52,122
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $11.87M
Find detailed analytics on CSS stock on TipRanks’ Stock Analysis page.