OSLO (Reuters) - Norwegian fish farmer Cermaq (>> Cermaq ASA) lowered its output guidance for the year and warned that its third quarter results would be weaker than expected, it said on Monday.

"The third quarter of 2014 is likely to become a weaker quarter for Cermaq than earlier expected," Cermaq said. "This is due to generally declining prices so far in the quarter, in addition to more company specific issues related to reduced sales volumes and fish health."

It now sees full-year sales volume at 151,000 tonnes, below a previous guidance for 158,000 tonnes.

Mitsubishi Corp (>> Mitsubishi Corp) launched an agreed bid for Cermaq on Monday, offering a 14 percent premium compared to the stock's last close and valuing the firm at $1.4 billion (856 million pounds).

(Reporting by Balazs Koranyi, editing by Terje Solsvik)

Stocks treated in this article : Cermaq ASA, Mitsubishi Corp