Glanbia may revisit sale within 12 months
A successful sale is seen as hugely positive for the plc, a fact borne out by the share price reaction in the days and weeks after the original plan was announced
Glanbia plc was just a few dozen votes short of getting the thumbs up for the sale of the Irish business to farmers, a margin which chief executive John Moloney has called ‘‘tantalisingly close’’.
With 73 per cent of co-op members backing the proposal, as well as unanimous support from the plc, it is likely that another attempt to offload the dairy business will be made in the next 12 months.
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