- Intensifying a bidding war with the UAE's Abraaj Investment Management, Kellogg (NYSE:K) has raised its offer for Egyptian cake and biscuit maker Bisco Misr again.
- The world's biggest breakfast cereal maker upped its bid to 82.2 EGP ($11.50) per share today, topping Abraaj's previous offer of 80.58 EGP ($11.27).
- Earlier this month, Abraaj offered 73 EGP per share, which Kellogg countered last week with 79 EGP.
- Previously: Bisco Misr bidding war heats up