NBPO New Brit. Palm

Sime Darby Bhd. (4197.KU), the world's largest publicly listed palm-oil producer, said Thursday it would make a cash offer of GBP1.073 billion to acquire Papua New Guinea-based New Britain Palm Oil Ltd. (NBPO.LN)

Malaysia-based Sime Darby said in a statement that it decided to make the offer after it received a letter from the prime minister of Papua New Guinea that said Sime Darby's acquisition wouldn't be contrary to the country's national interest.

Sime Darby said it is proposing to buy New Britain Palm Oil for GBP7.15 a share, which would represent a premium of 85% to the closing price of New Britain Palm Oil's shares on Wednesday on the London Stock Exchange.

Write to Wayne Ma at wayne.ma@wsj.com

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