Cooke Aquaculture's Clearwater Seafoods Takeover Touted As Boon To Region

The chief executive officer of Cooke Aquaculture Inc. says a successful takeover of Clearwater Seafoods Inc. would form a billion-dollar seafood powerhouse that would benefit all of Atlantic Canada.

"We don’t believe Clearwater is being poorly run," Glenn Cooke told The Chronicle Herald in an interview.

"We just believe that the two companies together are stronger than the two companies apart. And at some point we just hope Colin (MacDonald) and John (Risley) will support that."

His New Brunswick-based aquaculture company has offered $3.50 for each unit in the Clearwater Seafoods Income Fund that it doesn’t own. Clearwater founders Risley and MacDonald say the offer is too low.

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