PIONEER SUGAR SAYS CSR TAKEOVER OFFER TOO LOW

  &lt;Pioneer Sugar Mills Ltd> said it
  considered the proposed 2.20 dlrs a share cash takeover offer
  announced by CSR Ltd &lt;CSRA.S> on March 31 to be too low in view
  of the group*hK!UiIe and prospects.
      Pioneer recommended in a statement that shareholders retain
  their stock, pending the board's response once it receives full
  details of the CSR offer.
  

