August 19, 2021 — Cooke Aquaculture has confirmed its interest in purchasing Tasmania, Australia-based salmon-farming firm Huon Aquaculture, in the midst of a takeover bid from Brazilian meat processing giant JBS.
However, JBS has run into difficulty in the form of activist investor Andrew “Twiggy” Forrest, who has used his minority interest in Huon to push for increased environmental standards. In response, JBS issued a parallel bid for control of the company that seeks a 50.1 percent minimum acceptance condition. In a notice filed with the Australian Stock Exchange on 17 August, Huon announced JBS had upped its ownership to 40.53 percent of the voting power of the company.