Canadian seafood conglomerate Cooke is denying a Spanish media report that it is restructuring its offer for acquiring a stake in Spanish seafood producer Nueva Pescanova.

Spanish newspaper El Confidencialreported this week that Cooke slashed the value of its offer from €650 million to €250 million.

"Contrary to recent press reports, Cooke has not completed its due diligence investigation of Nueva Pescanova, nor has it delivered a revised offer to Abanca," Cooke company spokesperson Joel Richardson told IntraFish Friday afternoon.