National Foods, which is a subsidiary of Kirin Holdings in Japan, will acquire all the equity shares of Dairy Farmers at a price of A$5.65 per share in cash, including a special dividend of 59 cents per share, totalling A$675 million. The sale is subject to the approval of at least 75% of Dairy FarmersÆ shareholders, which is expected to take about three months.
For the financial year ended June 30, 2007 Dairy Farmers had net sales of A$1.175 billion on which it earned an operating income of A$29 million. The...
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