Farmers consider takeover EGM

FARMERS may call an extraordinary general meeting of Glanbia Co-op to force a takeover of the €530 million stock exchange quoted Glanbia plc in which the co-op has a 54.8% stake.

Fresh Milk Producers (FMP), representing approximately 30% of the suppliers to Glanbia’s €300 million gallon milk pool, has called on the board of Glanbia Co-operative Society to convert Glanbia to a farmer-owned co-op.

FMP chairman Eamonn Bray stressed they do not intend to make a bid for Glanbia but said they want a debate on the issue.