20 Jul 2010

Talley's wants the rest of Affco

5:47 pm on 20 July 2010

The privately owned food processing company Talley's Group has made a bid to take over the remaining part of the listed meat processing firm Affco that it already does not own.

The announcement was made to the stock market just after it closed on Tuesday at 5pm.

Last month, Talley's lifted its stake in Affco to 76%, after buying out the Spencer family's 23% stake.

At the time, the executive director of Talley's, Andrew Talley, said he had no intention of bidding for the rest of the Affco.

Shares in Affco were unchanged at 37c on Tuesday.