Blue Sky Meats' board is recommending shareholders accept a takeover offer from NZ Binxi (Oamaru) Ltd at $2.20 a share.
Last month, shareholders were told $2.50 a share was the price at which Blue Sky directors would recommend the offer and they were advised to wait for the outcome of negotiations.
![Blue Sky Meats chairman Scott O'Donnell. Photo / Duncan Brown](https://www.nzherald.co.nz/resizer/v2/LZGITWGRPJ7LZI6LT2D6JGPOEQ.jpg?auth=511e299244c0bbe27f139523838987f9f445fac80caf694177bf52e95015bb01&width=16&height=22&quality=70&smart=true)
NZ Binxi, which already owned 13.5% of the Southland-based meat processor, later said it would not be upping its $2.20 offer.
In a letter to shareholders, chairman Scott O'Donnell said the board unanimously recommended shareholders accept the offer.