Dairy Crest to renew bid?

5 May 2000

Dairy Crest to renew bid?

DAIRY Crest is expected to come back with renewed bid in the seesaw battle with Robert Wiseman Dairies to buy Unigates cheese and dairy business, reports the Daily Mail.

On Thursday (05 May) Wiseman raised its bid to 240 million, trumping Dairy Crests previous offer of 235m.

But the Mail predicts that Dairy Crest will return with a fifth bid of 250m which the newspaper believes will probably be the winner.

After taking into account 100m Unigate debt this would be worth about 65p/share to Unigate.

This is said to be much better than seemed likely two weeks ago, when Dairy Crests original bid had fallen to 200m.

The Mail says if Dairy Crest comes out of top, chief executive John Houliston will have to win over investors who are worried about his move back from quality cheese to the difficult liquid milk business.

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