When all else fails, talk up your asset: Shareholders of Al Jawhara, an Egyptian food producer, have turned down an EGP 1.3 bn acquisition offer from an unnamed Saudi company, said Ahmed Abdel Moghny, managing director at Premiere Securities, the financial consultant on the acquisition. Both parties have agreed to an independent appraisal of Al Jawhara’s assets to determine the most appropriate offer, Abdel Moghny added. This mysterious Saudi company plans to invest EGP 500 mn on expansions upon acquiring the company, he stated. Al Jawhara owns six factories producing tea, cakes, and other snack foods. (Read in Arabic)