M&A WATCH- The year’s hottest bidding war is still going strong, with Cairo Three A Group presenting a mandatory tender offer to acquire National Company for Maize Products (NCMP) at EGP 45 per share, according to Al Borsa (or check out the official word from EFSA in pdf). That trumps an earlier bid of EGP 35 per share from Archer Daniels Midland (ADM)’s Swiss unit. The companies are bidding for Misr Capital Investment’s 42.96% share in NCMP and are required by law to submit MTOs. Also in the running are Al Mona Misr (a local affiliate of global commodities giant Louis Dreyfus, which says it is not acting on Dreyfus’ behalf) and a subsidiary of EK Holding. Pharos Holding is sell-side advisor to Misr Capital Investment, while Al Tamimi & Co. is legal advisor. EFG Hermes is advising ADM, CI Capital is advising Cairo Three A, and Al Mona is being advised by Pioneers.

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