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Thursday, December 3 - 2009

Hadco shareholders positive on AlMarai takeover

  • Saudi Arabia: Monday, October 12 - 2009 at 11:46

More than 98% of Saudi Arabia-based Hail Agricultural Development Co.'s (Hadco) shareholders have approved the takeover bid by AlMarai in the first of a fourـday voting period, Reuters has said. Hadco shareholders holding about 20.5% of voting rights had voted on Saturday to decide whether to approve or reject the $253.2m cash and stock bid AlMarai first unveiled in July.

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