Delegat's Wine Estate's offer for Oyster Bay Marlborough Vineyards has reached 90 percent by today's deadline and is now unconditional.Delegat's owned 54.9 percent of Oyster Bay before launching a takeover offer, and has raised the price of its bid to $2.
Delegat's Wine Estate's offer for Oyster Bay Marlborough Vineyards has reached 90 percent by today's deadline and is now unconditional.
Delegat's owned 54.9 percent of Oyster Bay before launching a takeover offer, and has raised the price of its bid to $2.08 a share from $1.80.
Oyster Bay shareholders were warned that a substantial rights issue may have been required if the offer fell short of 90 percent, to satisfy bankers who granted a waiver for a breach of banking covenants until the end of December.
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