Unigate agrees to Dairy Crest offer


28 April 2000



Unigate agrees to Dairy Crest offer

UNIGATE has agreed to a revised offer from Dairy Crest for its milk and cheese operation.

The new deal values Unigates business at 235 million, including 100m of debt to be transferred, reports the Financial Times.

Dairy Crests offer is 10m more than the sum offered by its rival for Unigate, Scottish milk processor Robert Wiseman Dairies.

The FT reports that Wiseman is considering whether to increase its offer.

Unigate has agreed to pay Dairy Crest a 2.35m break fee if another party makes a successful offer after more than seven days.

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