Thursday, 27 June 2019 09:03

Shaky vote

Written by 
Shaky vote

The upcoming vote on Westland Milk’s sale is getting interesting as the big day approaches next week.

On July 4 Westland supplier shareholders meet to vote on Yili’s offer of $3.41/share.

The co-op’s largest shareholder, Southern pastures is abstaining from the vote. State-owned farmer PAMU, also a Westland supplier, hasn’t made up its mind yet on how it will vote.

Also reports of a big bonus to executives should the Yili deal go through is causing concern among some shareholders.

What seemed like a straight forward vote a couple of months ago is now looking slightly shaky.

Tagged under
 

More like this

Ironic end to champion co-op

Ironic end to champion co-op

Westland Milk Products’ sale to Chinese interests is an ironic end to the co-op, which last August was named New Zealand’s 2018 Cooperative Business of the Year.

They knew the terms – Chairman

Westland chair Pete Morrison has reiterated the terms under which protesting former suppliers had surrendered their shares that they say are worth millions.

Ex-Westland suppliers seek OIO help

A group of former suppliers of Westland Milk Products has formally asked the Overseas Investment Office to block or delay the sale to Yili.

back to top
 
 

» Latest Print Issues Online

ruralnewscover
dairynewscover
winegrowercover

Visit archives

Milking It

No tea, we’re vegan

UK vegans are demanding a law change to ban discrimination against plant-based eaters in workplaces.

Fake cows

Even more fibreglass cows may join those seen ‘grazing’ Morrinsville streets for four years.

» Connect with Dairy News