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Activist investor announces takeover bid for Yowie

Australia-based activist investor, Aurora Dividend Income Trust on May 20 announced a bid to acquire all ordinary shares of confectionery-maker Yowie Group Ltd. or Yowie, in an attempt to improve performance.

According to Yowie's Chairman Louis Carroll, the bid — 9 cents per share —"fundamentally undervalues" the company.

The chairman advised the company's shareholders to take no action in respect of the offer until the Yowie board makes a formal recommendation