Dive Brief:
- Abraaj Group of Dubai threw its hat in the ring once again to acquire Bisco Misr.
- It's bidding 79.10 Egyptian pounds ($11.06) per share - now valuing the company at $127.9 million - edging out Kellogg's 79 pounds per share proposed last week. This is up from Abraaj's first offer at 73.91 pounds.
- The snack-maker Bisco Misr controls three factories in the Middle East.
Dive Insight:
This is turning out to be a large game for the two companies. It will be interesting to watch as each company vies for the ownership, but may be embarrassing for Kellogg if it loses yet another bidding war.