Norwegian fish farmer Cermaq failed to win enough shareholder votes to buy Peruvian fish feed maker Copeinca on Tuesday at its annual general meeting (AGM), leaving open the possibility of a $1.7 billion (€1.3 billion) takeover of Cermaq by Marine Harvest.
The rights issue in order to finance the acquisition of Copeinca proposed by the Cermaq board was supported by the majority of the shares represented at the general meeting, but did not get the required 2/3 majority. The proposal regarding the authorization to issue shares in a private placement for the same purpose was thus not voted on.
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