Canada-based seafood giant Cooke on Tuesday reached an agreement to acquire all outstanding shares in Australian salmon farmer Tassal after two attempts to acquire the company were rebuffed.

The offering price of A$5.23 (€3.67/$3.61) per share, a 49 percent premium of Tassal's shares as of late June, values Tassal’s equity at approximately A$1.1 billion (€759 million/$772 million).

The deal is subject to the approval of Tassal shareholders, court approval and other customary closing conditions.

It is expected to close in late 2022.