M&A WATCH- Polyserve to submit MTO for 100% stake in FERC: Fertilizer manufacturer Polyserve Group will submit a mandatory tender offer (MTO) to acquire 100% Ferchem Masr for Fertilizers and Chemicals (FERC) at a cost of about EGP 110 mn, according to a bourse disclosure (pdf). Polyserve is looking to buy 17.5 mn shares in FERC at EGP 6.31 per share. The MTO is pending approval from the company’s general assembly. Polyserve is also considering an IPO on the EGX, according an August announcement from the International Agricultural Products Company (IAPC), which holds a 20.4% stake in Polyserve. IAPC also owns 15.7% of FERC.

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