Deal at offer price of A5.0 per share
United Malt shares up over 9 at A4.8
Deal requires FIRB and other regulatory approvals

July 3 Reuters United Malt Group Ltd said on Monday it agreed to a A1.5 billion 999 million takeover offer from Malteries Soufflet, a branch of French agribusiness InVivo, in a deal that will likely create the world39;s top malt producer.

The takeover would double the size of InVivo39;s malt business three years earlier than planned, InVivo Chief Executive Thierry Blandinieres told Reuters when the offer was first announced in March.

Shares of United Malt jumped 9.1 to A4.8 in early trading, 20 cents off the A5 per share offer price. The stock was the top percentage gainer on the benchmark index.

The cash offer represents a 45.3 premium to United Malt39;s closing price of A3.44 on March 24, before the offer was first disclosed.

The deal now requires approval from Australia39;s Foreign Investment Review Board FIRB as well as United Malt39;s shareholders to vote in support the transaction, among other regulatory requirements.

Australia has seen increased dealmaking this year, largely in contrast to the broader Asian region where the pressure of high interest rates has led to subdued mergers and acquisitions MA activity.

United Malt is the world39;s fourthlargest commercial maltster, producing bulk malt for brewers, craft brewers, distillers and food companies. The company has processing plants in Australia, Canada, the United States and…