	iel s acmex unit to bid for cheetham industrial equity ltd iel unit acmex holdings ltd said it proposed to make a formal takeover offer for all the issued capital of cheetham ltd a producer of salt animal feed and seeds acmex said in a statement it would offer one share for every two cheetham shares or dlrs cash for each share acmex said it was presently entitled to mln cheetham shares or pct of its mln issued shares the scrip offer values cheetham at about mln dlrs based on acmex s current price of dlrs and the cash offer at about mln cheetham last traded at dlrs reuter 
