Alliance Group “risks insolvency” if Dawn Meats offer rejected

Alliance Group faces the risk of “potential insolvency” if its shareholders reject Dawn Meats’ bid to acquire a majority stake in the New Zealand-based meat cooperative. Just over a month ago, Ireland-based Dawn Meats put forward an offer to purchase a 65% interest in Alliance Group for NZ$250m ($146.3m). In a statement on 18 September, Alliance Group chair Mark Wynne urged shareholders to accept the offer, saying “the board has unanimously recommended” the proposal. The recommendation came after shareh ...