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05/02/2008 12:00:59
Milk Link and First Milk end merger talks
The Boards of Milk Link and First Milk have agreed not to continue with the proposed merger of the two businesses.
Since October last year, there has been thorough due diligence and business planning activity. At the end of this process there were a number of important issues that we were unable to resolve including the valuation of the two businesses.
Despite extensive discussions, it has not been possible to agree terms for a merger that either party felt they could recommend to their memberships at the present time.
Both Boards believe that strong farmer owned dairy businesses are vital to the long-term future of the UK dairy industry. As such, both will now continue with their plans to grow and develop their respective businesses.
Since October last year, there has been thorough due diligence and business planning activity. At the end of this process there were a number of important issues that we were unable to resolve including the valuation of the two businesses.
Despite extensive discussions, it has not been possible to agree terms for a merger that either party felt they could recommend to their memberships at the present time.
Both Boards believe that strong farmer owned dairy businesses are vital to the long-term future of the UK dairy industry. As such, both will now continue with their plans to grow and develop their respective businesses.
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