Fauji Fertilizer Company Ltd. (PSX: FFC) has revised its offer price for acquiring up to 151 million shares of Agritech Limited (PSX: AGL), raising it from Rs. 38.84 to Rs. 39.05 per share.
This modification was implemented in response to Maple Leaf Cement Factory Ltd.’s (PSX: MLCF) competing proposal, which was disclosed in a notice to the Pakistan Stock Exchange (PSX) on Monday.
The total value of the transaction has been raised from Rs. 5,867 million to Rs. 5,899 million, as the offer price has increased from Rs. 8.00 per share to Rs. 9.90 per share. This increase in valuation reflects the competitive nature of the current bidding process and Fauji Fertilizer’s efforts to secure the acquisition.
Agritech Limited is a prominent participant in the fertilizer industry, as it is involved in the production of Granulated Single Super Phosphate and Urea fertilizers.
