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Koor extends MAI offer deadline

Makhteshim-Agan Industries (MAI) shareholder Koor Industries has extended the deadline for its offer to up its stake in the world’s largest generic pesticide company. Koor offered to buy 22 million shares at NIS16.20 ($4.30 at the current rate) per share last month ( Agrow No 574, p 4). Its original deadline for acceptance of the offer was September 10th. That has been extended to October 1st, following MAI’s initial response. Its board of directors recently “resolved to abstain from rendering its opinion” on the offer. The deal would raise Koor’s stake in MAI from 41.5% to 46.6%.

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