Prudential Investment Managers enters the fray in the ongoing Sovereign Foods versus Country Bird Holdings saga It’s a bit like having the neighbours from hell not just move into the neighbourhood but set up home on your front lawn. Whatever you want to do, they’ll be right there staring back at you.That’s the feeling the Sovereign Foods board is going to have to get used to for the next 10 months or so — unless someone has a plan that hasn’t yet seen the light of day.The most puzzling thing about the latest drama in the long drawn-out saga of Country Bird Holdings (CBH ) versus Sovereign is how CBH could have allowed Sovereign to win such an easy victory at the takeover regulation panel.Most parties making a conditional offer reserve the right to waive the conditions. CBH didn’t when it made its bid for Sovereign. And because it didn’t, it cannot take its stake to 35% until after September 13 2017.Following the panel’s ruling that CBH’s 900c/share offer lapsed (when it waived its a...
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