1 Jul, 2011: Codfarmers and Atlantic Cod Farms to merge
Codfarmers ASA (COD) and Atlantic Cod Farms AS (ACF) have today entered into a letter of intent for the combination of the companies (the "Transaction"). The Transaction will be structured as a share for share exchange, under which the ACF shareholders will receive COD shares as consideration for their ACF shares. Based on the agreed exchange ratio and assuming 100% acceptance from the ACF shareholders, the COD shareholders and the ACF shareholders will own 51.1% and 48.9%, respectively, of the combined company.
First 'marine monument' created in the Atlantic United States
The United States Government has created the Atlantic Ocean's first marine national monument, saying that the new protected area was a needed response to risky climate changes, ocean dead zones and unsustainable fishing practices.
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