Grocery wholesaler Metcash Ltd. has extended its bid for the Australian operations of Foodland Associated Ltd. to 21 May from 22 April, the Reuters news agency reports.

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Metcash plans to buy all of Foodland then spin-off the New Zealand operations, it said.


Metcash has offered A$7.18 (US$5.55)   cash per share for Foodland’s Australian business, valuing it at $846 million. As an alternative, Foodland shareholders can instead choose to receive 2.66 Metcash A shares for each Foodland share.

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