Talleys Affco offer to close after reaching target

Fishing company Talleys' partial takeover offer for 50.01 per cent control of Affco has succeeded and the offer will definitely close tomorrow, independent directors' chairman Sam Lewis said today.

"Those shareholders that wish to accept should act promptly (although the directors have not changed their own views on whether or not to accept the offer)," Mr Lewis said.

"It should be noted Talleys has received excess acceptances, so there will be significant scaling."

Affco's board was split on whether to accept the 39c per share offer despite it being assessed as fair by an independent advisor's report.

Mr Lewis said last month that, as a shareholder with farming interests and family associated with Affco for more than 60 years, he did not intend accepting the offer.

- NZPA