Marine Harvest’s takeover of Cermaq would still be attractive at a 10 percent higher offer price, estimated to enhance earnings per share (EPS) by up to 15 percent and to be value-neutral in year three.
Marine Harvest is considering raising its current NOK 104 (€13.9/$17.8) per share offer for Cermaq in order to win support from Cermaq’s management and its largest shareholder, the Norwegian government, with a 43.5 percent stake.
Stand-alone, Cermaq can be valued at around the current offer price of NOK 104 (€13.9/$17.8)
