82% of Newmarket members accept Kerry deal

On 12 August, Kerry Group announced the terms of its offer to acquire the entire issued share capital of Newmarket Co-operative Creameries Limited for a price of €421 per share, valuing the entire share capital plus debt of Newmarket Creameries at approximately €33m.

The Group today confirmed that it had received valid acceptances representing 82.49% of the issued share capital of Newmarket Co-operative Creameries Limited at the closing date of the offer period (10 September 2010).

Completion of the transaction is subject to approval by the Competition Authority of Ireland.

Source: Kerry Group

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