{"id":637410,"date":"2017-11-15T04:14:04","date_gmt":"2017-11-15T04:14:04","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/15\/fra-rejects-adms-counter-offer-for-ncmp\/"},"modified":"2017-11-15T04:14:04","modified_gmt":"2017-11-15T04:14:04","slug":"fra-rejects-adms-counter-offer-for-ncmp","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/15\/fra-rejects-adms-counter-offer-for-ncmp\/","title":{"rendered":"FRA rejects ADM\u2019s counter offer for NCMP"},"content":{"rendered":"

<\/a> M&A WATCH- FRA rejects ADM\u2019s counter offer for NCMP: <\/strong>The Financial Regulatory Authority (FRA) rejected again yesterday Archer Daniel Midland\u2019s (ADM) offer to acquire 100% of the National Company for Maize Products (NCMP), according to a regulatory bourse filing<\/a>. The statement contains no detail on why the bid was refused, ADM submitted a counter offer of EGP 50 per share, the CEO of ADM subsidiary Medsofts, Salah Tawfik, tells Al Borsa<\/a>. The FRA had rejected ADM\u2019s initial offer of EGP 35.56 per share, favoring instead<\/a> Cairo Three A\u2019s mandatory tender offer for NCMP of EGP 45.00 per share. ADM executives had reportedly been surprised by the refusal, particularly since they had met several times with Investment Minister Sahar Nasr to discuss the transaction, which was meant to kick off their expansion plans in the country\u2019s food sector.<\/p>\n","protected":false},"excerpt":{"rendered":"

M&A WATCH- FRA rejects ADM\u2019s counter offer for NCMP: The Financial Regulatory Authority (FRA) rejected again yesterday Archer Daniel Midland\u2019s (ADM) offer to acquire 100% of the National Company for Maize Products (NCMP), according to a regulatory bourse filing. The statement contains no detail on why the bid was refused, ADM submitted a counter offer […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-637410","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"6980c7c2-da63-4e9e-9651-2c12f0434ab3","order":"0","is_powered_by":true,"section_story_id":"93632b79-ea97-4d47-bf47-9c21be93b69a","story_type":"1","photo_url":"","photo_position":"above","related_issue":[637395],"teaser":"","voice_url":""},"yoast_head":"\nFRA rejects ADM\u2019s counter offer for NCMP - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/15\/fra-rejects-adms-counter-offer-for-ncmp\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FRA rejects ADM\u2019s counter offer for NCMP\" \/>\n<meta property=\"og:description\" content=\"M&A WATCH- FRA rejects ADM\u2019s counter offer for NCMP: The Financial Regulatory Authority (FRA) rejected again yesterday Archer Daniel Midland\u2019s (ADM) offer to acquire 100% of the National Company for Maize Products (NCMP), according to a regulatory bourse filing. The statement contains no detail on why the bid was refused, ADM submitted a counter offer […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/15\/fra-rejects-adms-counter-offer-for-ncmp\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-11-15T04:14:04+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/15\/fra-rejects-adms-counter-offer-for-ncmp\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/15\/fra-rejects-adms-counter-offer-for-ncmp\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"FRA rejects ADM\u2019s counter offer for NCMP\",\"datePublished\":\"2017-11-15T04:14:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/15\/fra-rejects-adms-counter-offer-for-ncmp\/\"},\"wordCount\":147,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/15\/fra-rejects-adms-counter-offer-for-ncmp\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/15\/fra-rejects-adms-counter-offer-for-ncmp\/\",\"name\":\"FRA rejects ADM\u2019s counter offer for NCMP - 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This comes\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":637574,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/20\/adm-abandons-ncmp-bid\/","url_meta":{"origin":637410,"position":1},"title":"ADM abandons NCMP bid","author":"enterpriseam admin","date":"20 November 2017","format":false,"excerpt":"M&A WATCH- Archer Daniels Midland (ADM) will give up its bid for the National Company for Maize Products (NCMP) now that the deadline for it to submit a counter offer has expired, Salah Tawfik, CEO of ADM\u2019s Egypt subsidiary Medsofts, tells Al Mal. The Financial Regulatory Authority (FRA) had rejected\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":637110,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/08\/fra-approves-cairo-3as-bid-for-ncmp-rejects-rival-offer-from-adm-ncmp-valued-at-egp-1-33-bn\/","url_meta":{"origin":637410,"position":2},"title":"FRA approves Cairo 3A\u2019s bid for NCMP, rejects rival offer from ADM; NCMP valued at EGP 1.33 bn","author":"enterpriseam admin","date":"8 November 2017","format":false,"excerpt":"M&A WATCH- The Financial Regulatory Authority (FRA, formerly EFSA) has approved Cairo 3A\u2019s mandatory tender offer to acquire 100% of the shares of the National Company for Maize Products (NCMP) at EGP 45 per share, according to a bourse statement. FRA also rejected an EGP 35.56 per share bid presented\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":637517,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/19\/major-ncmp-shareholders-accept-cairo-three-a-mto-adm-might-remain-in-pursuit\/","url_meta":{"origin":637410,"position":3},"title":"Major NCMP shareholders accept Cairo Three A MTO, ADM might remain in pursuit","author":"enterpriseam admin","date":"19 November 2017","format":false,"excerpt":"M&A WATCH- Major NCMP shareholders accept Cairo Three A MTO, ADM might remain in pursuit: National Company for Maize Products (NCMP) shareholders Misr Capital Investments and National Bank of Egypt have accepted Cairo Three A\u2019s mandatory tender offer to acquire their stakes in the company at EGP 51 per share,\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":637167,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/09\/is-it-still-a-horse-race-to-acquire-ncmp\/","url_meta":{"origin":637410,"position":4},"title":"Is it still a horse race to acquire NCMP?","author":"enterpriseam admin","date":"9 November 2017","format":false,"excerpt":"M&A WATCH- Banque Misr, National Bank of Egypt to exit NCMP: Banque Misr plans to sell its 42.9% majority stake in the National Company for Maize Products (NCMP) through Misr Financial Investment Company, Al Mal reports. 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