MUNICH (dpa-AFX) - BayWa AG (BYWG) said it has prolonged the tender offer period for the takeover of Turners & Growers or T&G until March 7, 2012, which is a planned and regular prolongation as the Overseas Investment Office or OIO, New Zealand's regulatory authority, is still in the process of approving for this transaction. BayWa currently has the consent of the shareholders for the takeover of about 70 percent of the shares in T&G. The takeover offer must remain open until the OIO has concluded its assessment. The German Federal Cartel Office gave its approval for T&G takeover by BayWa back in December 2011.
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