Westland shareholders strongly back Yili takeover

Thu, 04 Jul 2019

By Rebecca Howard July 4 (BusinessDesk) - Westland Co-Operative Dairy Company shareholders overwhelmingly supported a takeover bid by Hongkong Jingang Trade Holding, a unit of Inner Mongolia Yili Industrial Group Co. Of 2,775 votes available able for voting today, there were 2,484 favour, 165 against and 10 abstentions. More than 96 percent voted. Of the total votes able to be cast, 90 percent were in favour. In order to pass, 75 percent needed to vote and of those, 50 percent had to back the plan. Chairman Pete Morrison said shareho...

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