Shareholders of Arla Foods UK have approved the takeover offer from 51% stakeholder Arla amba, in a deal worth GBP212.9m (US$420.8m).
At a Court Meeting and Extraordinary General Meeting, an overwhelming 92.15% of shareholders voted in favour of the deal, representing 99.64% of votes cast.
Go deeper with GlobalData
Arla amba will pay 71 pence per share in cash to acquire the remaining 49% stake in the UK dairy group, through its subsidiary Arla Holding. The acquisition price values the entire existing issued share capital of Arla Foods UK at GBP434.5m.
It is expected that the sale will be completed at the beginning of April.
