Müller has secured more shares in UK milk supplier Robert Wiseman Dairies, which earlier this week agreed to a GBP280m (US$430.2m) takeover bid from the German yoghurt maker.
In a statement to the London stock exchange yesterday evening (17 January), Müller said it had acquired a 13.1% stake in Wiseman.
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A clutch of Wiseman shareholders, including UK dairy co-op First Milk, which owns over 10% of the business, have also given Müller an undertaking that they will sell their shares to the company.
Müller owns, has received irrevocable undertakings or has a letter of intent for shares representing 63% of Wiseman.
On Monday, the Wiseman board said it would back Müller’s GBP279.5m bid for the company. Wiseman’s board and directors also recommended the GBP3.90-a-share offer to the company’s shareholders and, at that stage, investors representing 54% of the milk supplier’s stock had indicated they would accept the offer.
The bid represented a 59.8% premium to the price at which Wiseman’s shares closed on Thursday, the day before news of the talks between the two companies went public.
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