It has been reported this morning that Scottish dairy giant Robert Wiseman Dairies, the UK’s biggest fresh milk supplier, has agreed to a takeover by the German-owned yoghurt maker, Muller Dairy.
Date:
Mon, 16 Jan 2012
Source:
Various
East Kilbride-base Wiseman last week confirmed that it was in discussions with Muller over a possible cash offer. Wiseman, which operates seven dairies across the UK, boasts The Co-operative Group, Sainsbury’s and Tesco among its customers.
A report by BBC Scotland this morning states that: "Britain's biggest fresh milk company, Robert Wiseman, has agreed to be taken over by Muller Dairy in a deal worth almost £280m.
"The recommended cash offer of 390p per share is 60% above the value at close of Robert Wiseman's shares on Thursday - a day before the start of the offer.
"The deal means the Wiseman family, which owns 35% of the company, will receive a total of £98m.
"Exactly half of that sum will go to executive chairman Robert Wiseman, while his brother Alan will get £35m.
"Dairy farmer co-operative First Milk, which owns 10% of Wiseman, will receive £27.9m."
Robert Wiseman was established in 1947 and now provides about 30% of the fresh milk consumed in the UK every day.
Muller is known for its range of dairy yogurts, including the trademark Muller Corner and Muller Light yogurts.
The headquarters of Muller Dairy (UK) Ltd is in Market Drayton in Shropshire.
More information:
Robert Wiseman Dairies.
Muller Dairy UK.
More dairy news from Scotland.
Read the latest BBC Scotland report.