Suitor closing in on full takeover of Mr Chips

The takeover of listed potato products maker Mr Chips is inching towards certainty.

Yesterday suitor Simplot Australia's takeover vehicle had 82.74 per cent of Mr Chips, just short of the 90 per cent required for it to compulsorily acquire the remainder of the shares.

The stakeholding comprised acceptances by shareholders controlling 54.93 per cent of Mr Chips, and an irrevocable agreement with shareholders holding 27.81 per cent to accept the August 8 full takeover offer.

Under the offer, shareholders will receive $2.643 for each share, plus a cash dividend of 25.7c a share.