Co-op could bid €350m for Glanbia

GLANBIA Co-op could offer to pay a net figure of up to €350 million to buy the Irish assets of Glanbia Plc.

News of the deal, which requires 75% backing from the co-op’s 8,500 shareholders, was dismissed a “speculative” by a spokeswoman for the Plc yesterday.

If successful it would result in its 55% holding in the Plc being cut substantially to possibly under 25%.