Bain Capital Bids for Fish-Feed Unit of Norway’s Cermaq .

Bain Capital Bids for Fish-Feed Unit of Norway’s Cermaq

A pair of private-equity firms jumped into a battle for dominance of Norway’s fish industry, making a 6.2 billion Norwegian kroner ($1.08 billion) offer for the fish-feed unit of Cermaq CEQ.OS +3.21%ASA after it rejected advances from Norway rival Marine Harvest MHG.OS +1.10%ASA.

The latest offer, from Stockholm-based Altor and U.S.-based Bain Capital LLC, came as shares of Norwegian salmon fish farmers have reeled in big gains. Shares of Marine Harvest, the world’s largest producer of farmed salmon, have gained 57% over the past 12 months amid rising global demand and concerns about the potential for disease outbreaks in Chile, one of the world’s largest salmon suppliers.

Marine Harvest’s latest offer, delivered last month, valued all of Cermaq, including its fish-farming operations, at 107 kroner a share, or 9.9 billion kroner.

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