Blue Sky Meats (N.Z.) Limited

 

Transaction Type: Takeover (Full)

Offeror: Southern Lamb Investments Limited (Offeror)

Independent Adviser(s): Campbell MacPherson

Offer dispatch date: 18/03/2022

Offer closing date: 6/05/2022

 

On 4 March 2022, Southern Lamb Investments Limited (Southern Lamb) announced its intention to make a full takeover offer for all the shares in Blue Sky Meats (N.Z.) Limited (Blue Sky), for consideration of $3.00 per share (the Offer).

Southern Lamb is owned by interests associated with Andrew Lowe and Scott O’Donnell, both of whom were directors of Blue Sky and, through associates, held or controlled in aggregate approximately 35% of the voting rights in Blue Sky prior to the Offer.

On 18 March 2022, Southern Lamb sent the Offer to Blue Sky’s shareholders.

It was not expected that Southern Lamb would receive acceptances of at least 90% as NZ Binxi (Oamaru) Foods Limited (with a shareholding of 19.84%) had provided an intention statement to the effect that it would not accept the Offer.

On 30 March 2022, the Offer was declared unconditional.

The Offer closed on 6 May 2022. Southern Lamb had acquired 74.87% of the shares issued in Blue Sky.

We have not received consent to publish the offer document in relation to this transaction on our website. However, copies of this document may be available upon request to the Panel under the Official Information Act 1982. Please send your written Official Information requests to takeovers.panel@takeovers.govt.nz