Support for Kerry offer
Published 24/08/2010 | 05:00
THERE has been a positive farmer reaction to Kerry Group's €33m bid for Newmarket Co-op.
Local sources predict that the deal is likely to get the two-thirds shareholder support it requires from the special general meeting of Newmarket Co-op in Meelin on September 2.
An information meeting for shareholders is being held in Ballydesmond tomorrow, where officials from Kerry and Newmarket will outline details.
Kerry is to pay over €24m for Newmarket's 57,495 existing shares. A further €2.4m will be paid to active milk suppliers.