Rivals still fight for Unigate

12 May 2000

Rivals still fight for Unigate

FURTHER bids seem likely in the battle between Dairy Crest and Robert Wiseman Dairies to buy Unigates milk and cheese business.

A spokesman for Wiseman indicated that the firm was in determined mood and was likely to submit another offer, after its £240m punt late last week was immediately topped by a £250m package from Dairy Crest.

Since Dairy Crests initial bid of £220m back in March, the two rivals have, almost weekly, been raising the stakes in their effort to secure the Unigate business.

Although Wiseman has secured a £325 finance deal with German banks, it seems unlikely that the firms next move will be a "knockout blow". Sources close to the Wiseman board say that value for money is vital, and that, for now, increases will be modest.

in offers to Unigate shareholders are likely to continue to be modest.

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