US firm Seaboard still seeking to delist Unga

US conglomerate Seaboard Corporation will not be able to buy a Kenyan agro-processing firm, it said on Friday.

In February, Seaboard offered to buy the 46.15 per cent of Ungas shares held by the Stock Exchange (NSE) #ticker: NSE in order to take over the private [19659004]

"Seaboard has decided to waive the minimum acceptance threshold and claim to the acquisition of the shares for which acceptances have been received," it said in a notice published in the Daily Nation.

Victus Ltd, which supports Seaboard's goal of buying-out minorities and delisting th

Seaboard, which had about 50.93 per cent stake, needed to acquire three-quarters of the total capitalized share capital to be able to take Unga private. 19659004] Market participants said Unga, whose businesses range from wheat to maize milling to baking and animal nutrition products,

Unga Group's share at The NSE was back in suspension Tuesday, a day after a resumption of trading following a three-week hiatus that saw the stock drop to 7.4% to Sh37.50.

The NSE said the company sought an extra two days of suspension Convergence of Seaboard Corporation in the United States of America

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