Westland Milk reports positive season
"I'm more positive now than I was two or three months ago." That's the view of Richard Wyeth, chief executive of Hokitika-based Westland Milk Products (WMP).
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.
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