Arla’s Board says “yes” to mergers
Posted: 27 June 2012 | Arla Foods | No comments yet
Arla’s Board of Representatives has approved proposed mergers with the Germany’s Milch-Union Hocheifel and Britain’s Milk Link…
Arla’s Board of Representatives has today approved Arla’s proposed mergers with the German Milch-Union Hocheifel and British Milk Link.
The Board of Representatives voted in favour of the two mergers by a large majority.
“Now a large majority has voted in favour at all three companies and it feels really good to have made this decision on a future together. We would like to extend a warm welcome to Arla to our new members from MUH and Milk Link,” says Chairman of Arla Foods, Åke Hantoft.
Arla’s CEO, Peder Tuborgh, is also pleased with the decision of the owners.
“This is an important decision and fundamentally strengthens Arla. The circle of ownership is being expanded with more owners and with owners in the UK, who all share our vision of the future: To be a strong European dairy company that operates in a global market.”
The two mergers will now be examined by the relevant regulatory authorities. Arla expects to be able to carry out the mergers during the autumn of 2012.
Facts about the mergers
Separate votes were held in Arla for each of the two proposals and the result of the voting was as follows:
- MUH: On Arla’s Board of Representatives, a majority of 99,4 per cent voted for the merger. 156 voted in favour, 2 voted against, 2 abstained. At MUH, a majority of 98,5 per cent voted for the merger. 135 voted in favour,2 voted against. 1 was absent.
- Milk Link: On Arla’s Board of Representatives, a majority of 96,8 per cent voted for the merger. 152 voted in favour, 5 voted against, 3 abstained. At Milk Link, 1314 members voted, and a majority of 99,5 per cent voted for the merger.