Shareholders in Del Monte Foods have given the go-ahead for a US$5.3bn takeover by a group of private-equity firms led by KKR.
The shareholder vote, which had been delayed to solicit counter offers after controversial claims that financial adviser Barclays Capital acted under a conflict of interest, went ahead yesterday (7 March). The deal is expected to close this week, Del Monte said in a statement.
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The buyout firms will pay $19 per share for the food group, the company added.
