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Share Price Information for Glanbia (GLB)

London Stock Exchange
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Share Price: 18.23
Bid: 17.32
Ask: 19.14
Change: -0.91 (-4.75%)
Spread: 1.82 (10.508%)
Open: 19.14
High: 0.00
Low: 0.00
Prev. Close: 19.14
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OFT issues supplementary dairy price collusion report

Thu, 23rd Jul 2009 07:57

The Office of Fair Trading (OFT) has issued a supplementary statement of objections in relation to its investigation into dairy prices.The supplementary statement provides additional support to the OFT's provisional finding that a number of parties colluded to increase the retail prices of various dairy products in 2002 and 2003, in breach of the Chapter I prohibition in the Competition Act 1998. Supermarket chains Tesco and Wm. Morrison are disputing the OFT's findings, whereas other parties named in the investigation have admitted their participation in some anti-competitive practices.Lucy Neville-Rolfe, Executive Director (Corporate and Legal) of Tesco said the company is continuing to co-operate with the OFT in the "next stage of this long running inquiry," but restated the company's position that it "did not collude with anyone"."We will, of course, look carefully at any new evidence the OFT sends to us relating to events that took place in 2002 and 2003. We will however continue to defend our position strongly," she added.One of the parties named in the announcement is The Cheese Company Limited, a UK hard cheese company now in the ownership of Milk Link Limited, which was owned by Glanbia during the period under investigation.Glanbia said it party to an agreement with TCC dated 7 December 2007 whereby both parties have agreed to co-operate with the OFT in its ongoing investigation. "As a result of agreeing to co-operate with the OFT it is currently anticipated that the maximum penalty payable by Glanbia and TCC combined is £2,016,360. It is expected that the actual fine imposed will be substantially lower," said Glanbia.
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28 Mar 2022 19:25

IN BRIEF: Glanbia completes sale of 40% interest in Glanbia Ireland

Glanbia PLC - Kilkenny, Ireland-based nutrition company - Confirms that the necessary regulatory approval required in advance of completion of the disposal of its 40% interest in Glanbia Ireland DAC to Glanbia Co-operative Society Ltd has been satisfied. Completion of the transaction will take place on Friday.

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7 Mar 2022 13:42

IN BRIEF: Glanbia managing director buys EUR86,000 in shares

Glanbia PLC - Kilkenny, Ireland-based nutrition company - Managing Director Siobhan Talbot buys 8,000 shares at EUR10.77, worth EUR86,120, on Friday last week.

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4 Mar 2022 14:16

IN BRIEF: Glanbia division chief buys EUR100,000 in shares

Glanbia PLC - Kilkenny, Ireland-based nutrition company - Hugh McGuire, chief executive officer of Glanbia Performance Nutrition, buys 9,000 shares at EUR11.13 and EUR11.15, worth about EUR100,000, in Dublin on Thursday.

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3 Mar 2022 13:02

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20 Jan 2022 15:25

IN BRIEF: Glanbia Co-op completes sale of 2% stake in Glanbia PLC

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Glanbia disposes of 40% stake in Glanbia Ireland as focus narrows

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Glanbia reiterates annual outlook and plans to sell Glanbia Ireland

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Glanbia exceeds expectations in first half, flags inflation headwind

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Glanbia raises annual guidance as it overcomes pandemic's disruption

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