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NEW ZEALAND: Frucor holds out for higher bids

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Frucor shareholders have been asked to put off accepting Danone's NZ$294m offer for the New Zealand-based company in case a higher bid comes forward. Chairman of Frucor's independent sub-committee, Ian Donald told shareholders at its Annual General Meeting on Thursday that while the committee will have ongoing dialogue with Danone, it would also be soliciting interest from other potential bidders.


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