Andromeda Acquisition Corp. has extended the offering period of its offer to buy all the outstanding shares of common stock in US dairy firm Galaxy Nutritional Foods.

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The subsequent offering period, previously set to expire on 21 May, will now expire on 28 May, Andromeda announced today (22 May).


Based upon a preliminary tally by Continental Stock Transfer & Trust Company, the depositary for the tender offer, around 9.8 million shares had been validly tendered by close yesterday.


Combined with the shares already owned, the shares total around 89.3% of the company’s outstanding common stock.


Any shares validly tendered during the subsequent offering period will be immediately accepted for payment, and tendering shareholders will be paid $0.36 per share, in cash and without interest.

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