Andrew 'Twiggy' Forrest challenges JBS takeover of Huon

Chairman of Fortescue Metals, Andrew Forrest, has challenged a takeover bid of Huon Aquaculture from Brazilian meat giant JBS, citing environmental concerns. Mr Forrest has spent around $65 million buying 18.5 per cent of the Tasmanian-based company, which was valued at around $550 million by JBS. If JBS is successful, it will be the company’s first venture into seafood anywhere in the world. Mr Forrest says he has written to JBS and “challenged them”, as he is concerned the “biggest producer of animal protein in the world” hasn’t mentioned animal husbandry or the environment mentioned anywhere” in their 138 page report. “Given they exist deeply in the natural environment, animal husbandry should be their bread and butter,” Mr Forrest said. “Every consumer in the world should have the right to know that what is on their plate didn’t come about through either pain or fear from the animal concerned.” If Mr Forrest procures more than 19.9 per cent of Huon, or has the support of other shareholders, he will be able to block the deal.