IMC maintains merger talks with Sapore

IMC maintains merger talks with Sapore

M&A Brazil

International Meal Company (IMC) said it is still in merger talks with Sapore but has not reached an agreement. IMC was responding to a report in local daily Folha de S. Paulo that said it had agreed to sell as much as 60% for an undetermined amount. According to Folha, Sapore will take a 35% stake in the new company and then issue a tender offer to buy an additional 25% for BRL9.30 ($2.51) per share.  Shares in IMC reached as high as BRL8.78 after the news broke on Wednesday. They ended the d

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