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| Version 1 | Version 2 |
|---|---|
| Wiseman agrees to Muller takeover | Wiseman agrees to Muller takeover |
| (40 minutes later) | |
| Britain's biggest fresh milk company, Robert Wiseman, has agreed to be taken over by Muller Dairy in a deal worth almost £280m. | Britain's biggest fresh milk company, Robert Wiseman, has agreed to be taken over by Muller Dairy in a deal worth almost £280m. |
| Wiseman confirmed last week it was in talks with Muller after a sharp rise in its share price. | Wiseman confirmed last week it was in talks with Muller after a sharp rise in its share price. |
| The Scottish group operates seven dairies across the UK and counts the The Co-operative Group, Sainsbury's and Tesco among its customers. | The Scottish group operates seven dairies across the UK and counts the The Co-operative Group, Sainsbury's and Tesco among its customers. |
| Muller is based in Germany and makes yoghurts and potted desserts. | |
| Wiseman provides about 30% of the fresh milk consumed in the UK every day. | Wiseman provides about 30% of the fresh milk consumed in the UK every day. |
| The recommended cash offer of 390p per share is 60% above the value at close of Robert Wiseman's shares on Thursday - a day before the start of the offer. | |
| Significant stake | |
| Robert Wiseman, executive chairman of Wiseman, said: "The combination of Muller and Wiseman makes strong commercial and strategic sense, creating a leading integrated dairy business in the United Kingdom with complementary positions in the yoghurt and potted desserts market and the fresh milk market. | |
| "Wiseman has its origins as a family business and, since listing in 1994, my family has retained a significant stake in the business. It is heartening to know that the business will become part of another family-owned business in Müller." | |
| Muller is a multi-national producer of dairy products and is based in Bavaria. | |
| It is best known for its range of yoghurts, including the trademark Muller Corner yoghurt. The headquarters of Muller Dairy (UK) Ltd is in Market Drayton in Shropshire. | |
| Heiner Kamps, chief executive of Muller, said: "This is an exciting strategic move by Muller to enter a new market segment in the UK. The combination of these complementary businesses will form a leading dairy player offering a range of exceptional products to our customers across the UK. | |
| "This will create significant opportunities which will benefit suppliers, customers, consumers and employees." |