Norwegian salmon producer Cermaq asked its shareholders to vote against the voluntary offer from Marine Harvest, urging them to "await potential alternative solutions."
The board of directors considered the offer document from Marine Harvest and decided unanimously not to accept the NOK 107 (€14.1/$18.6) per share offer.
It maintains previous statements, saying the offer doesn't reflect the underlying value of Cermaq or the synergies that could have been realized through a combination of the two companies.
"It is further considered most unfortunate that the acceptance level again is set at 33.4
