Overview
- Dawn Meats said Alliance exceeded profit guidance and reduced net debt, triggering a NZ$20–25m top-up under the agreed adjustment mechanism.
- The top-up would be paid as a post-completion dividend to cooperative members, contingent on farmer shareholder approval of the scheme.
- With NZ$40m in previously agreed loyalty payments, member distributions would total about NZ$60m if the deal proceeds.
- The proposal would give Dawn Meats a 65% stake in Alliance Group for NZ$250m, with a final vote tally expected Monday or Tuesday.
- Alliance’s board unanimously recommends approval and has warned of limited alternatives, including potential insolvency, while an independent adviser judged the offer the best available option.