{"id":637574,"date":"2017-11-20T04:08:30","date_gmt":"2017-11-20T04:08:30","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/20\/adm-abandons-ncmp-bid\/"},"modified":"2017-11-20T04:08:30","modified_gmt":"2017-11-20T04:08:30","slug":"adm-abandons-ncmp-bid","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/20\/adm-abandons-ncmp-bid\/","title":{"rendered":"ADM abandons NCMP bid"},"content":{"rendered":"

<\/a> M&A WATCH- Archer Daniels Midland (ADM) will give up its bid for the National Company for Maize Products (NCMP)<\/strong> 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<\/a>. The Financial Regulatory Authority (FRA) had rejected at least two bids from ADM<\/a> to acquire the NCMP, choosing instead to accept Cairo Three A\u2019s offer of EGP 51 per share. NCMP shareholders Misr Capital Investments and National Bank of Egypt said they will accept Cairo Three A\u2019s offer, prompting ADM to ask its legal counsel, Shahid Law, to file a formal inquiry into the rejection, which the FRA did not justify.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 at least two bids from […]<\/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-637574","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"ba511513-5dd7-4078-b450-f473c637cb9d","order":"0","is_powered_by":true,"section_story_id":"08d025e9-cecb-4d00-ba44-1098b3d37336","story_type":"1","photo_url":"","photo_position":"above","related_issue":[637565],"teaser":"","voice_url":""},"yoast_head":"\nADM abandons NCMP bid - 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\/20\/adm-abandons-ncmp-bid\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ADM abandons NCMP bid\" \/>\n<meta property=\"og:description\" content=\"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 at least two bids from […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/20\/adm-abandons-ncmp-bid\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-11-20T04:08:30+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\/20\/adm-abandons-ncmp-bid\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/20\/adm-abandons-ncmp-bid\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"ADM abandons NCMP bid\",\"datePublished\":\"2017-11-20T04:08:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/20\/adm-abandons-ncmp-bid\/\"},\"wordCount\":121,\"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\/20\/adm-abandons-ncmp-bid\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/20\/adm-abandons-ncmp-bid\/\",\"name\":\"ADM abandons NCMP bid - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2017-11-20T04:08:30+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/20\/adm-abandons-ncmp-bid\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/20\/adm-abandons-ncmp-bid\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/20\/adm-abandons-ncmp-bid\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"ADM abandons NCMP bid\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"ADM abandons NCMP bid - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/20\/adm-abandons-ncmp-bid\/","og_locale":"en_US","og_type":"article","og_title":"ADM abandons NCMP bid","og_description":"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. 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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":649273,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/27\/louis-dreyfus-egyptian-affiliate-submits-bid-for-ncmp-stake\/","url_meta":{"origin":637574,"position":2},"title":"Louis Dreyfus\u2019 Egyptian affiliate submits bid for NCMP stake","author":"enterpriseam admin","date":"27 April 2017","format":false,"excerpt":"M&A WATCH- Global commodities giant Louis Dreyfus\u2019 local affiliate, Al Mona Misr, has presented a bid to acquire Misr Capital Investment\u2019s 42.96% stake in National Company for Maize Products (NCMP), according to an EGX filing. Al Mona\u2019s bid is non-binding, but, if approved, the company will submit a mandatory tender\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":645640,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/26\/adm-enters-the-fray-to-buy-ncmp\/","url_meta":{"origin":637574,"position":3},"title":"ADM enters the fray to buy NCMP","author":"enterpriseam admin","date":"26 July 2017","format":false,"excerpt":"M&A WATCH- Swiss firm Archer Daniels Midland (ADM) will bid for another food company in Egypt after the winner of the bidding war for National Company for Maize Products is made clear,according to Al Borsa. We had previously covered the ongoing contest for NCMP, and now it looks like the\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":637410,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/15\/fra-rejects-adms-counter-offer-for-ncmp\/","url_meta":{"origin":637574,"position":4},"title":"FRA rejects ADM\u2019s counter offer for NCMP","author":"enterpriseam admin","date":"15 November 2017","format":false,"excerpt":"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,\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":638785,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/15\/ific-withdraws-bid-to-acquire-ncmp\/","url_meta":{"origin":637574,"position":5},"title":"IFIC withdraws bid to acquire NCMP","author":"enterpriseam admin","date":"15 October 2017","format":false,"excerpt":"M&A WATCH- Egypt Kuwait Holding (EKH) subsidiary International Financial Investments Company (IFIC) has reportedly withdrawn its bid to acquire National Company for Maize Products (NCMP), Al Mal reports. Sources said IFIC did not finish the due diligence process because of the bureaucracy and the length of time associated with the\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/637574","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=637574"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/637574\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/637565"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=637574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=637574"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=637574"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=637574"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=637574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}