1st Apr 2019 15:46
LONDON (Alliance News) - Cathedral City cheese maker Dairy Crest Group PLC said on Monday its shareholders have voted in approval of its acquisition by Canadian firm Saputo Inc at a court meeting and general meeting.
At the court meeting, 96.5% of shareholders voted in favour of the takeover, as did 96.5% at the general meeting, both held earlier in the day on Monday.
In mid-February, Saputo had agreed to acquire Dairy Crest for 620 pence per share, valuing the FTSE 250-listed company at around GBP975 million.
The acquisition is now conditional on the sanction of the scheme by the High Court of Justice of England & Wales at the court hearing due to take place on Thursday next week. Should the scheme be sanctioned, it will take effect on April 15.
Shares in Dairy Crest were down 0.2% at 619.50 pence on Monday.