15 Dec 2010

Delegats offer for Oyster Bay unconditional

8:34 am on 15 December 2010

Delegats' offer for Oyster Bay Marlborough Vineyards shares it didn't already own has gone unconditional.

Delegats is offering $2.08 cash or one Delegats Group share for every Oyster Bay share.

Oyster Bay's independent directors unanimously recommended shareholders accept the offer, which required 90% acceptance to go ahead.

The acceptances received this week lift Delegat's holding from 55% before the offer was launched, to 95.2%.

Shares in Delegates were unchanged on Tuesday $1.94.