Müller seals 93.9% of Wiseman

Published on 08/02/2012 00:21

GERMAN dairy operator Müller yesterday declared that its £280 million offer for East Kilbride-based Robert Wiseman Dairies had turned “unconditional” after securing 93.9 per cent of the Scottish milk maker’s shares.

Müller said it would pay Wiseman investors 390p for each of their shares on 20 February and could de-listed the company from the London Stock Exchange as early as 7 March.

News of the offer emerged on Friday, 13 January, and Wiseman’s management issued a statement on the following Monday recommending it to shareholders.

Ernest Finch, Norman Murray and Jack Perry stood down yesterday as Wiseman’s non- executive directors, while Robert Wiseman resigned as chairman but remained as a non-executive director. Heiner Kamps became non-executive chairman.