Simplot Launches Full Takeover Offer For Mr Chips

Potato chip maker Mr Chips has received a full takeover offer from Simplot Australia.

The offer, conditional on a satisfactory report by Grant Samuel & Associates, was for $2.643 per Mr Chips share, and an entitlement to retain a cash dividend of up to $0.257 per share, totalling $2.90 per share.

The offer was also conditional on Simplot achieving acceptances for at least 90 percent of shares.