Crucial vote looms for Glanbia shareholders

Another major vote looms for Glanbia co-op shareholders, as Glanbia plc confirmed this week that talks are progressing with its majority shareholder, the co-op, to turn its Irish dairy processing business into a joint venture (40% plc/60% co-op).

The plc failed two years ago to sell its Irish dairy processing business to the co-op, whose members voted just 2% short of the 75% required to approve the €343m deal.

Approval by 75% will also be needed for the joint venture now under discussion.