DEAR SIR: As a Glanbia co-op shareholder, I am very concerned with press coverage relating to the proposed buyout by the co-op of the plc 40% stake in GII.
The valuation of €400m to €500m is based on a retained margin of 3.2%.
This margin of 3.2% has been partly funded by the co-op propping up the milk price using the farmers’ own money.
Selling part of the co-op’s 32% share in Glanbia plc looks financially unwise at the current share price. I wonder what the panic is?