Windfall as Glanbia ratifies vote

After an anxious wait there was jubilation when the chairman of Glanbia, Liam Herlihy, announced that 83% of shareholders in Glanbia Co-op had voted to ratify their earlier decision to dispose of 10% of its holding in Glanbia plc.

It means farmers will receive an average of €15,000 each as part of a share spin-out, while their stake in Glanbia plc will dip from 51% to 43%.

The turnout was 4,522, of which 3,975 said yes. A majority of 75% was required for the deal to go through. Members will now receive a €157m windfall.