date:Sep 03, 2013
ofood's announcement.
Shares in Minzhong, which had been suspended since the selloff last week, more than doubled to match the offer price of S$1.12 after trading resumed on Monday. Indofood's shares fell 9 percent.
Indofood, controlled by Indonesia's wealthy Salim family, has made some big acquisitions in the agribusiness sector in the past few years.
Indofood doubled its stake in Minzhong in March when it bought shares from Singapore sovereign wealth fund GIC for S$1.12 a share. Minzhong wa