Talleys extends Affco offer deadline

Fishing company Talleys has extended its takeover offer for meat processor Affco by a week as it hovers within 1 per cent of its 50.01 per cent target.

Talleys said yesterday it had extended the 39c-a-share offer from May 31 until June 7.

A substantial shareholder notice showed Talleys had secured 49.05 per cent of Affco, increasing its holding by just 0.89 of a per cent in the past two weeks.

Director Andrew Talley said the offer had "progressed strongly" after initial delays, particularly since Affco released a poor half-year result.

- NZPA