date:Nov 30, 2014
US-based food manufacturing company Kellogg's has raised its offer to acquire Egyptian cake and biscuit maker Bisco Misr to 82.2 per share.
Kellogg's new offer overtakes Abraaj Investment Management's latest offer of 80.58 per share.
Earlier in November, breakfast cereal maker Kellogg's offered $127.06m for the biscuit producer, Reuters reported.
Abraaj initially offered 73 per share in November which Kellogg's countered with 79.
The government of Egypt has launched a raft of long-delayed re