Leroy going on shopping spree?

By the end of March 2011, Leroy had almost twice as much cash as Cermaq and Marine Harvest combined.

Its annual report shows that it had NOK 1.6 billion (€203.7 million/$290 million) in cash by the end of March.

In comparison Cermaq -- parent group of Ewos and Mainstream -- had NOK 525 million (€66.8 million/$95.2 million). Marine Harvest, the biggest producer, had NOK 377 million (€48 million/$68.3 million) in cash.

Analysts believe Leroy might be storing it cash for acquisitions.

“It would seem that Leroy is keeping cash in reserve for possible acquisitions,” DnB Nor Markets analyst Klaus Hatlebrekke told IntraFish.

That