8 Dec 2010

More Oyster Bay shareholders accept Delegat's offer

8:22 am on 8 December 2010

More than a third of Oyster Bay Marlborough Vineyards' shareholders have accepted Delegat's revised takeover offer.

Delegat's is offering $2.08 cash or one Delegat's Group share for every Oyster Bay share.

The acceptances received this week lift Delegat's holding to 74%, from 55% before the offer was launched.

The independent directors have unanimously recommended shareholders accept the offer, which requires 90% acceptance, and closes on 14 December.