LacPatrick Dairies intends to hold a vote with shareholders on its potential merger with Lakeland Dairies this September, according to Agriland.ie.
The two dairy co-ops agreed to enter into “exclusive discussions” regarding an amalgamation of the two groups last week.
At the time, both groups said that any agreement will be subject to shareholder approval, as well as any regulatory clearance.
Speculation
LacPatrick announced in April that it would be interested in pursuing "a number of strategic options".
A number of co-ops were linked with a potential deal with the border region dairy group.
Dale Farm, Aurivo and Glanbia were all understood to be keeping an eye on LacPatrick’s situation, but Lakeland Diaries were labelled the most likely partner from early on.
In mid-May, LacPatrick sent out the details of the business to potential bidders.
© 2018 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click subscribe to sign up for the Checkout print edition.
