A group of Southland-based Alliance Group shareholders say the $250 million offer by an Irish meat company for a 65% stake in the co-operative appears to significantly undervalue the business.
"You get what you put in." That's been the philosophy of Dunedin business leader Neil Finn-House, who leaves the city this week for a new role in Wellington.
An alternative proposal to retain 100% farmer ownership of Alliance Group is not credible in the time-frame set by the company’s banking partners, chairman Mark Wynne says.
A group of Southland-based Alliance Group shareholders say the $250m offer by an Irish meat company for a 65% stake in the co-operative appears to significantly undervalue the business.
"You just end up doing things which just gives you a sense of belonging and it’s a sense of contributing to your community — and it’s just what you do."
Alliance Group’s board will reduce from nine to to five — three from Dawn Meats and two from Alliance — if shareholders vote to sell a 65% stake to the Irish company.
Talley's Group-owned Open Country — New Zealand’s second-largest milk processor — has entered into a conditional agreement with the shareholders of Mataura Valley Milk to buy the business.