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UPDATE 1-Kellogg tops Abraaj offer for Egypt's Bisco Misr

2014-11-26 13:53:30| Agriculture - Topix.net

Kellogg Co, the world's biggest breakfast cereal maker, has offered 908.5 million Egyptian pounds for Egyptian cake and biscuit maker Bisco Misr, setting up a likely bidding war with a UAE investment company. UAE-based Abraaj Investment Management offered 850 million pounds this month for the Egyptian firm, which earlier refused a takeover bid from Juhayna Foods, Egypt's largest juice maker.

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