As per reports, the board of the Proserpine Sugar Mill along with its chief advisors announced that once again they were confused to decide that which of the capture offers, presented by the Sucrogen and Tully Sugar was better to choose.

However, presently the board had suggested that they would be revising the $115 million Sucrogen proposal among their chief to members and the final buying decision would be taken on this Friday.

The officials further accounted that a confidential voting procedure among the office employees would be done to take the final decision.

Meanwhile, Tully Sugar officials declared that they have now nominated the Proserpine board to be the chief beneficiary for their sale and loan agreement, which would be confirming its $120 million offer.

Moreover, the tendered offer wills certainly be allowing the nominated company to obtain the mill's assets, and the deal will also be forcing a new evaluation method for both foreign takeover tenders.

Sharing his views about these business deals, Lou Raiteri, Proserpine Chairman Lou stated that following the business strategies, they will notify all the members.

He further affirmed that all these notifications would only be done the moment the evaluation process is completed and after that they would also decide that on what basis the Sucrogen offer would be voted by them.

He added, "The board has recommended to members that they take this assessment into account when deciding how they vote and the board is currently assessing the Sucrogen and Tully/COFCO agreements and will inform members as soon as its assessment is complete".

On the other hand, Ian Glasson, Sucrogen Chief Executive commented that soon after the official meeting, all the growers were able to get the important facts about the planned deal and he was pleased that after the deal, the company will go ahead in its profit growth graphs.