News 
 National Rural News 
 Dairy 
 General 
 Dairy Farmers bid goes to the vote 

Dairy Farmers bid goes to the vote

03 Nov, 2008 01:50 PM
The special postal ballot for the proposed acquisition by National Foods of Australian Cooperative Foods, which trades as Dairy Farmers, has now opened.

For the $910 million National Foods proposal to acquire ACF to succeed, it requires the support of 75pc or more of ACF active members who vote on the proposal.

Information about the National Foods proposal has been posted to ACF members from across Queensland, NSW, Victoria and South Australia this week.

Each active member was also sent a voting guide which includes a special postal ballot paper.

"The ballot is open and members will be receiving their packs of information on the National Foods proposal, which for active members includes a special postal ballot paper, today or early next week," ACF chairman Ian Langdon said.

"This pack of information includes what is known as a Scheme Booklet – a 220-page legal document that contains very detailed information about the National Foods proposal, including the independent expert’s report.

"After receiving their packs of information, the board strongly encourages members to read all the documentation carefully before completing their ballot papers.

"We also recommend they discuss the National Foods proposal with their investment and taxation advisers."

The proposal is subject to a number of conditions, including that new and existing members enter into revised milk supply contracts with Dairy Farmers for a minimum period to 30 June 2010 to secure minimum regional volumes of milk.

Print
Increase Text Size
Decrease Text Size

comments


Date: Newest first | Oldest first
Dairy Farmers, don't sell your soul for short term gain. One only has to look at Incitec-Pivot to see how farmers are treated when cooperatives are sold to huge conglomerates which appear to be only interested in shareholder profits. Don't ruin the dairy industry for future generations.
Posted by Kevin Rude, 4/11/2008 11:33:19 AM

post a comment


Screen name  *
Email address  *
Remember me?
Comment  *
 
We invite and encourage our readers to post comments. Comments are moderated and will appear as soon as our editor has approved them. When posting comments you agree to be bound by our Terms and Conditions.
Related Coverage
ARTICLES
POLL
Q: Is now the right time for the Federal Government to be overhauling its drought assistance policy?

Yes - the sooner the better
(52%)

No - wait until the current drought is over
(32.8%)

It doesn't make any difference
(15.2%)

Total Votes: 454
Poll Date: 02 November, 2008

Most popular articles

Advertisement



North Queensland Register







Weather brought to you by:

Weatherzone

Classifieds

Front Page

Current Issue
Privacy Policy | Conditions of Use | Advertising Terms | Copyright © 2012. Fairfax Media.
 SEND...
 SAVE...
 SHARE...