Shareholders were told that although the future remained uncertain, the worst was over. At the time, Imerman conceded he and Anglo had overpaid for Del Monte, there was bad management and a more conservative approach was necessary. Analysts are expecting one of two scenarios. The first is that Anglo will buy out the Imerman family and minorities, and de-list the group, but analysts point out Del Monte does not fit comfortably into the Anglo stable. Nabisco, which has a joint venture with Del Monte in its SA operation, was also mentioned.
Analysts say it is difficult to put a price on the deal.
It would be difficult to offer minorities anything less than 300c. Analysts say neither Anglo nor Imerman would sell at the current share prices. Earlier this year, an international fund manager bought about 10-million Del Monte shares. It is unclear if the current deal is related.