Goodman Fielder Ltd., Australia and New Zealand’s largest baker, rejected a A$1.3 billion ($1.2 billion) offer from Wilmar International Ltd. and First Pacific Co., saying it “materially undervalues” the company.
Singapore Telecommunications Ltd., Southeast Asia’s biggest phone company, posted fourth-quarter profit that missed analysts’ estimates as sales in Australia dropped and weaker currencies affected contributions from units.
Singapore Telecommunications Ltd., Southeast Asia’s biggest phone company, wants to focus on wireless services in Myanmar as it vies for the right to operate in one of the world’s last untapped mobile markets.
Olam International Ltd., the commodity supplier targeted by short-seller Carson Block, raised $712.5 million from a 10 percent-oversubscribed bond sale, which was backed by its two largest shareholders.
Wilmar International Ltd., the world’s largest palm oil trader, agreed to buy CSR Ltd. ’s sugar unit for A$1.75 billion ($1.5 billion), beating China’s Bright Food Group Co.’s bid for Australia’s biggest refiner.