Greencore Group Plc (GNC.L) announced that The UK Office of Fair Trading has indicated that it does not intend to refer the proposed acquisition by Greencore Foods Limited of Uniq Plc (UNIQ.L) to the Competition Commission.
Greencore announced that as at 1.00 p.m. London time on 23 September 2011, valid acceptances of the Offer have been received in respect of 115.47 million Uniq Shares, representing approximately 98.53% of Uniq's issued share capital.
Greencore said that the Offer will remain open for acceptances until further notice and at least 14 days' notice will be given to Uniq Shareholders who have not accepted the Offer before the Offer is closed.
Cash consideration will be paid within 14 days of the date of this announcement to those accepting Uniq Shareholders whose valid acceptances have already been received, Greencore said.
Greencore has requested that Uniq applies to the London Stock Exchange for the cancellation of the admission to trading of Uniq's shares on AIM on 20 Business Days' notice. It is anticipated that such notice will be given on 23 September and that cancellation of admission to trading on AIM will take effect on or around 24 October 2011.
On 12 July 2011, Greencore announced that it had reached agreement with the Uniq Board on the terms of a recommended cash offer by Greencore Foods, a wholly owned subsidiary of Greencore Group to acquire the entire issued and to be issued share capital of Uniq. The Offer values each Uniq Share at 96 pence and Uniq's existing issued share capital at approximately £113 million.
The Offer was declared unconditional as to acceptances on 29 July 2011.
On 8 August, the proposed Acquisition and Rights Issue were approved by Greencore Shareholders and on 24 August 2011, the proposed Acquisition received clearance from the Irish Competition Authority.
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