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LONDON - Bakkavor Group plc shareholders voted overwhelmingly in favor of the company’s acquisition by Greencore Group plc, according to a statement released Monday.
At meetings held Monday, 99.98% of Bakkavor scheme shares voted supported the recommended cash and share offer, while 99.98% of shares represented at the General Meeting approved the special resolution to implement the scheme.
The transaction, first announced on May 15, 2025, will be implemented through a Court-sanctioned scheme of arrangement. Greencore shareholders had previously approved the acquisition at their own general meeting held on July 4.
"The requisite majority of Scheme Shareholders voted in favour of the resolution to approve the Scheme at the Court Meeting," Bakkavor stated in its release.
The scheme received support from 86.11% of voting shareholders, representing 91.71% of Bakkavor’s issued share capital.
Despite securing shareholder approval, the acquisition remains subject to Court sanction at a hearing expected in early 2026, along with satisfaction of other conditions outlined in the scheme document published on June 12.
The combined entity would create a significant player in the prepared food sector, though specific terms of the cash and share offer were not detailed in the announcement.
If all remaining conditions are met, the scheme is expected to become effective in early 2026, according to the timetable previously communicated to shareholders.
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