Kerry Group move closer to buy out of Newmarket Creameries

A Co Cork creamery has approved a rule change that will allow a buy-out by Kerry Group.

At a Special General Meeting of Newmarket Co-operative Creameries Limited last night, 81% of shareholders voted in favour of the proposed rule change which will allow Kerry Group to proceed with an offer to buy the entire issued share capital of Newmarket for a price of €421 per share.