Ireland’s Dawn Meats increases bid for New Zealand’s Alliance Group by NZ$20-25m after meeting profit and debt targets. Total dividend payment of around NZ$60m expected post completion of transaction pending farmer shareholders’ approval. Final vote on deal expected next week. Alliance Group faces potential insolvency if bid rejected.

Alliance Group chair urges shareholders to accept Dawn Meats’ offer, citing significant positive changes in recent years. Options if bid rejected include asset sales, site closures, cost reductions, raising capital, or insolvency. Independent adviser Northington Partners deems Dawn Meats’ offer as the best and only one to meet the co-op’s needs.

Just Food seeks update on Alliance Group’s latest sales and profit figures ahead of shareholder vote. Co-op, with 4,300 shareholders, reported NZ$1.8bn revenue in 2024 but posted NZ$95.8m loss after tax. Dawn Meats’ bid sweetening efforts aim to secure majority stake in Alliance Group.

Read more at Yahoo Finance: Dawn Meats sweetens bid for Alliance Group