Wilmar

Wilmar: Sucrogen increases initial offer of A$115m ($152m) to buy Prosepine Co-op Sugar Mill by A$5m. This matches Cofco Grp’s Tully Sugar’s bid A$120m but the Prosepine board was reported to be of the view that Sucrogen’s offer was superior to Tully’s which had a no. of conditions attached. Wilmar trades at fwd P/E of 15.5x vs Mewah at 7.8x