Indomie maker's buyout offer for Indofood Agri 'not fair but reasonable': IFA

Singapore

THE independent financial adviser (IFA) to the recommending directors of Indofood Agri Resources has concluded that the buyout offer by Indomie maker Indofood Sukses Makmur for the agribusiness company is "not fair but reasonable".

Novus Corporate Finance has told the directors to recommended that shareholders of Indofood Agri vote in favour of the offer, even though the offer is at the lower end of acquisition multiples for plantations.