Norway's Cermaq recommended Monday shareholders accept a $1.4 billion cash bid it unveiled by Mitsubishi that would create the world's second largest salmon farming company.
The Japanese group has offered to pay 8.88 billion Norwegian kroner ($1.4 billion, 1.1 billion euros) for the entire share capital of semi-state owned Cermaq.
The Norwegian state — which owns 59.17 percent of Cermaq — said it was prepared to sell its shares but reserved the right to sell to another bidder should a "more attractive" offer emerge.
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