IGI Investments offers to buy Matco's entire corn stake

The Matco Foods corn division drew a non-binding offer from IGI Investments for 100 percent of Matco Corn Products, and the board has cleared talks.

IGI Investments has made a non-binding offer for Matco Foods' entire 100 percent stake in Matco Corn Products.

The board considered the offer on October 15 and allowed management to negotiate.

Managers must bring proposed terms back for formal board approval before any sale.

Arif Habib Limited is advising the seller. IGI Investments is wholly owned by IGI Holdings.

Matco said it will disclose further material developments as the talks move on.

Read the full story

Zaviya