A Canadian company taking over Tassal has been approved by the salmon producer’s shareholders.
Cooke International is paying $5.23 per share, with the deal subject to final legal clearance in court.
Shareholders will be happy with a premium price, not so President of Neighbours of Fish Farming Peter George.
“What a disgrace it is that Tassal have spent 30 years saying they care about Tasmania, they care about our waterways and have constantly let us down and now they are doing something even worse which is giving it to a multinational with a shocking reputation that’s even worse than Tassal’s.”
He sees it making the image troubled industry even less transparent because Cooke is a private company that won’t have to report in public.
“Tassal made it perfectly clear that it is not going to remove any of its pens from these shallow protected waterways where they cause such damage, in fact quite the contrary, they plan to expand as fast as they can with the help of the government.”