New Zealand dairy company Fonterra has agreed to accept an improved offer from Rank Group for its stake in New Zealand Dairy Foods (NZDF), reports AsiaNet.
In order to win the support of the 6,200 shareholders who have a choice over whether to sell, Rank decided to slightly increase their offer from NZ$1.70 a share to NZ$1.75, Fonterra's chief financial officer Graham Stuart said today.
