Shareholders hear more about dairy takeover bid
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Local dairy farmers have heard more information about the proposed acquisition of Dairy Farmers by National Foods.
The company proposes to acquire Australian Cooperative Foods (ACF) which trades as Dairy Farmers, requiring 75 per cent support of its active members.
The meeting at Bomaderry also covered questions about the valuation of business, and revised milk supply contracts being offered as part of the proposal.
The chairman of Australian Cooperative Foods, Ian Langdon, says the deal is a win-win arrangement for everyone involved.
"I think it's a good deal for National Foods, for shareholders who are farmer shareholders with ACF, I think it's a good deal with farmers going forward with their milk price," he said.
"I also think it's a good thing with the Australian dairy industry because there is a requirement for the future of this industry to be ultra efficient."
Yesterday's meeting was the final chance for local dairy farmers to ask questions before they vote on November 12.
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