PIONEER SUGAR SAYS CSR TAKEOVER OFFER TOO LOW <Pioneer Sugar Mills Ltd> said it considered the proposed 2.20 dlrs a share cash takeover offer announced by CSR Ltd <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.