Australia's Select Harvests rejects offer from UAE fund, shares jump:
"Australian almond producer Select Harvests Ltd (SHV.AX) said on Monday it has rejected a A$430.6-million ($334 million) takeover proposal from United Arab Emirates sovereign wealth fund Mubadala Investment Company PJSC. Shares in Select Harvests were up 25.5 percent at A$5.27 after the announcement. The company said the Mubadala Investment Company offer “undervalued” the company at A$5.85 per share and was also “highly conditional”. The offer was 39 percent above the company’s closing share price last Wednesday, ahead of a halt in trading."
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