Bain Capital and Altor, private equity firms offered US$1.1 billion for Cermaq's fish feed unit on Monday. The said deal complicated Marine Harvest's plans as it proposed to take over the whole firm with a US$1.7 billion bid.

Cermaq would use some of the money to pay its debt and pay out 4 to 5 billion crowns to its shareholders. This would mean between 43 to 45 crowns per share according to the company. Meanwhile, Marine Harvest offered 107 crowns for all of Cermaq.

Recently, Salmon farmers have been among the hottest stocks due to the increasing global demand. This is because of the limited Salmon supply growth in Chile, a top global supplier, due to renewed signs of disease.

Last month, the battle over Cermaq heated when Marine Harvest offered the company but failed to convince its board. Marine Harvest is the world's biggest fish farmer. Cermaq's 43.5% stake is owned by the Norwegian government.

Shipping tycoon and Marine Harvest controller, John Fredriksen said that it would go ahead with the acquisition plan anyway. He added that the company is willing to increase the bid offered if the government would agree to the said deal.

The shares of Cermaq have traded above the offer past in the past weeks. The last closed at 190 crowns. This is an indication that shareholders are expecting a higher offer.