Williams and Kettle receives further Wrightson takeover notice

Rural services firm Williams & Kettle (W&K) today confirmed it had received a further takeover notice from the Craig Norgate-controlled Wrightson.

The latest notice provides flexibility in Wrightson's offer in case there are "for any reason... delays in them obtaining the... exemptions they are seeking".

Wrightson's first takeover notice, which values W&K at $104.5 million, was issued on December 24.

Further, Wrightson has advised that only one offer would be made to W&K shareholders.

The offer is either at 470c a share, or one Wrightson share plus 270c in cash, for each W&K share.

The deal is conditional on Wrightson receiving acceptances for 90 per cent or more of the voting rights in W&K.

- NZPA