LIC shareholders reject plan to buy agri-tech company stake

LIC shareholders reject plan to buy agri-tech company stake
Rebecca Howard
Covid-19 uncertainty was too big a hurdle for Livestock Improvement Corporation shareholders today as they rejected a deal to buy a stake in Israeli dairy farm management firm Afimilk Agricultural Cooperative.LIC had sought shareholder approval to acquire a 50 percent stake for $108.7 million. Of the votes received at today’s special meeting, 27.6 percent voted in favour but 70.3 percent voted against.“The market and economic volatility seen since late February saw shareholder uncertainty and nervousness about embarking on an acquisition increa...

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