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(Reuters) – The consumer goods company Clover Industries Ltd (CLRJ.J) said Monday that it has received a 4.8 billion rand ($ 358.99 million) takeover bid from a consortium of companies, including Brimstone Investment Corporation Ltd (BRTJ.J) and the general management of Clover.
The deal proposed by Milco SA Proprietary Ltd offers Clover shareholders 25 per share, a 25% premium at the closing of the company on Friday.
Report by Devika Syamnath in Bengaluru
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