24 October 2007 - Norwegian food industry investor Scandza AS will not make the planned voluntary all-share cash USD 99.3 million bid for local dairy group Synnove Finden ASA, as reported by FLEXNEWS last week.
According to a statement sent to the Oslo Bourse, Synnove Finden's board of directors denied Scandza the opportunity to carry out such due diligence, thus the announced offer will not be taken any further.
Scandza also said it is relieving the shareholders who had pre-accepted the offer.
After this, Scandza owns no shares nor rights to shares in Synnove Finden.