	amylum chairman disappointed by ferruzzi cpc deal belgian starch manufacturer amylum nv is surprised and disappointed that its mln dlr offer for the european business of cpc international inc cpc n was apparently rejected in favour of a lower mln dlr bid by italy s gruppo ferruzzi chairman pierre callebaut said callebaut told reuters that amylum a leading starch and isoglucose manufacturer in which britain s tate and lyle plc tatl l holds a pct stake had made an undisclosed initial takeover offer for cpc s european corn wet milling business by the close of cpc s tender on march the offer was raised on march to a final mln dlrs in cash after cpc told amylum its initial bid was below ferruzzi s mln stg offer callebaut said on the same day cpc announced it had agreed in principle to sell its european business to ferruzzi in a mln dlr deal noting that ferruzzi was studying a public offering of shares in its unit european sugar france to fund the cpc takeover callebaut said amylum may still succeed in its bid for the time being we just await developments but i note that whereas our higher offer was in cash ferruzzi apparently is still organising finance callebaut said reuter 
