Glanbia Co-op begins postmortem over failed €343 million buyout bid

A POSTMORTEM on the failed €343 million proposed buyout of the Irish interests of Glanbia plc by the co-op has started.

It is being conducted by the company in a series of regular meetings of members through its representative structure. The buyout proposal was narrowly rejected a special general meeting of Co-op shareholders in Kilkenny earlier this month.

Despite a 73% majority of members voting in favour of the acquisition, the proposal failed as it did not secure the 75% approval required under the Co-op’s rules.