Cooke made an offer July 26 to purchase all outstanding fund units for CAD$3.50 (€2.5/$3.5) each, making the proposal worth CAD$159 million (€113.2 million/$161.1 million).

The fund has more than 51 million units, including 5.6 million owned by Cooke. That represents 20.2 per cent of the fund and 10.9 per cent of total outstanding voting rights, reports The Chronicle Herald.

Clearwater Seafoods issued a news release Friday saying Clearwater Fine Foods Inc. , which has a 48.2 per cent interest in the fund, has indicated it’s not interested in selling.