Abraaj tops Kellogg again in Bisco Misr takeover battle | GulfNews.com:
"Abraaj Investment Management raised its offer for Bisco Misr to 84.66 Egyptian pounds (Dh43.49, $12) per share on Wednesday, trumping Kellogg Co again in an intensifying battle for the Egyptian snack maker.
The UAE’s Abraaj initially offered 73.91 pounds per share for Bisco Misr in early November, but Kellogg, the world’s biggest breakfast cereal maker, has twice outbid the private equity firm and its latest offer stood at 82.2 pounds per share.
Egypt’s regulator last week extended the period for Abraaj, the Middle East’s largest private equity firm, to match Kellogg’s bid to Dec. 24. The regulator has yet to approve Abraaj’s new offer."
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