Aquaculture Australia Company Pty Ltd placed a non-binding indicative proposal to acquire Tassal Group Limited (ASX:TGR) for AUD 1 billion on June 27, 2022. Under the terms, Cooke Inc. will acquire all shares for AUD 4.85 per share. Cooke Inc. entered into a definitive agreement to acquire Tassal Group Limited (ASX:TGR) for AUD 1.1 billion on August 15, 2022. The revised scheme price of AUD 5.23 per Tassal share values Tassal's equity at approximately AUD 1.1 billion. Tassal employs over 1,700 people in Tasmania and Australia. Transaction is subject to approval of Cooke's and Tassal Group board approval and court approval. Tassal Board continues to unanimously recommend that Tassal Shareholders vote in favour of the Scheme. Scheme Meeting, at which Tassal Shareholders will vote on the proposed Scheme, is scheduled to be held on November 3, 2022 Supreme Court of New South Wales approved the deal. As of November 3, 2022, Tassal Group shareholders approved the acquisition. As of November 8, 2022, Supreme Court of New South Wales approved the transaction. It is anticipated that the Scheme will complete in late 2022. As of November 3, 2022, Scheme is expected to be implemented on November 21, 2022. Goldman Sachs acted as financial advisor and Herbert Smith Freehills acted as legal advisor to Tassal Group. Kidder Williams Limited acted as financial advisor to Aquaculture Australia. Allens is acting as legal advisor to Aquaculture Australia. Kroll, LLC acted as fairness opinion provider to Tassal Group.

Aquaculture Australia Company Pty Ltd completed the acquisition of Tassal Group Limited (ASX:TGR) on November 9, 2022.