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| Version 3 | Version 4 |
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| Wiseman agrees to Muller takeover | Wiseman agrees to Muller takeover |
| (about 1 hour 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. | Muller is based in Germany and makes yoghurts and potted desserts. |
| East Kilbride-based 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. | 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. |
| The deal means the Wiseman family, which owns 35% of the company, will receive a total of £98m. | The deal means the Wiseman family, which owns 35% of the company, will receive a total of £98m. |
| Exactly half of that sum will go to executive chairman Robert Wiseman, while his brother Alan will get £35m. | Exactly half of that sum will go to executive chairman Robert Wiseman, while his brother Alan will get £35m. |
| Dairy farmer co-operative First Milk, which owns 10% of Wiseman, will receive £27.9m. | Dairy farmer co-operative First Milk, which owns 10% of Wiseman, will receive £27.9m. |
| Significant stake | Significant stake |
| Robert 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. | Robert 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." | "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. | 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. | 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. | 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." | "This will create significant opportunities which will benefit suppliers, customers, consumers and employees." |
| Michael McCann, Labour MP for East Kilbride, Strathaven and Lesmahagow, said guarantees were needed that the takeover would not lead to job losses. | |
| He added: "I am seeking to meet the company, union and workforce in the coming days to help in any way I can." |