Synlait has entered a trading halt for its securities, including ordinary shares and bonds.
The halt, which took effect on Thursday at 1.30pm, will remain in place until the outcome of a resolution put to a special shareholders' meeting from 2pm is released.
The resolution will include the results of conducted polls.
Scales and buyer Craigmore have already worked together for a number of years.
The ASX200 rose 0.7% to close above 8,000 for the first time ever.
Can the new guard and the old guard find common ground?
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