Oyster Bay deal close

An end to the long-running tussle for control of Oyster Bay is nigh, with Delegat's Wine Estate yesterday sending details of its $6 per share offer to shareholders.

That's almost double the $3.10 offered by rival bidder Peter Yealands when the battle for control of the Marlborough vineyard began in May last year, and $2 higher than Delegat's initial $4 a share offer that was scrapped by the High Court at Wellington in November.

Yealands, who was last month released from a court undertaking to launch his own takeover offer of at least $4.50 a share, has said he will accept the latest offer.