New Zealand meat processor AFFCO has announced that the takeover bid for Open Country Cheese by its dairy subsidiary Dairy Trust has become unconditional, following the confirmation of the required number of shareholder acceptances.
AFFCO said it had received sufficient acceptances to satisfy the minimum acceptance condition, adding that the offer, which closed yesterday, “is now unconditional in all respects”.
The company said that final acceptance numbers would be confirmed over the next few days. Following that finalisation process, notice of allotment of Dairy Trust shares will be sent to OCC shareholders who accepted the offer.