increase font size
The stalled merger proposal between EastPack and Satara is now back on the table after the Satara Board of Directors unanimously agreed to ask their shareholders in one of the special interest groups for a second vote.
This follows that sector group narrowly voting the merger down last Friday by 0.2% below the required 75% threshold.
Overall, 85% of Satara shareholders who voted were in favour of the proposed merger, while 97% of the EastPack shareholders voted for the merger.
Chairmen of the two companies, Ray Sharp and Hendrik Pieters said that the most pleasing aspect is that the whole Satara Board now supports the merger whereas three directors were previously opposed.
The meeting date of the new vote is March 14 but only for Special Interest Group 2. The EastPack and the four other Satara interest groups won't be required to vote again as they've already indicated overwhelming support for the merger.
As we move into the late-summer and autumn period, much of the country’s fruit growing regions are entering operationally critical windows of the horticultural calendar. The question on grower’s minds is ‘what is the outlook for the March-April harvest?’
Ministry for Primary Industries (MPI) Director General Ray Smith is giving a big shout-out to the horticulture sector, especially kiwifruit.
Zespri says global sales for the 2024-25 season topped $5 billion on the back of strong demand and market returns.
The head of the New Zealand Kiwifruit Growers organisation NZKGI says the points raised in a report about the sector by Waikato University professor Frank Scrimgeour were not a surprise.
A partnership between Canterbury milk processor Synlait and the world's largest food producer, Nestlé, has been celebrated with a visit to a North Canterbury farm by a group including senior staff from Synlait, the Ravensdown subsidiary EcoPond, and Nestlé's Switzerland head office.
Canterbury milk processor Synlait is blaming what it calls "a perfect storm" of setbacks for a big loss in its half year result for the six months ended January 31, 2026.
More of the same please, says Federated Farmers dairy chair Karl Dean when asked about who should succeed Miles Hurrell as Fonterra chief executive.
A Waikato farmer who set up a 'tinder' for cows - using artificial intelligence to find the perfect bull for each cow - days the first-year results are better than expected.
Fonterra says it's keeping an eye on the Middle East crisis and its implications for global supply chains.
The closure of the McCain processing plant and the recent announcement of 300 job losses at Wattie’s underscore the mounting pressure facing New Zealand’s manufacturing sector, Buy NZ Made says.
