22 March 2000
Wiseman offers 225m for Unigate
By FWi Staff
ROBERT Wiseman Dairies has launched a cash offer of 225 million to purchase Unigates dairy and cheese business.
If successful, the merger would create a company with a milk-processing capacity of 1.2bn litres per year and 26% of the UK market.
But Unigate officials have already accepted in principle another offer made earlier this month by rival company Dairy Crest for its dairy and cheese business.
Dairy Crest offered Unigate shareholders 76 million new shares worth 120m and pledged to take on 100m of debt.
Unigate said it would continue to fulfil its obligations but confirmed it was also in discussions with Robert Wiseman regarding the new offer.
A spokeswoman for Robert Wiseman said talks were in the early stages.
She added: “Weve been into the sweetie shop, but not had a look at the shelves yet.”