Filta Group Holdings PLC - Rugby, England-based Filta provides cooking oil filtration and fryer management services - Franchise Brands PLC says own shareholders vote overwhelmingly to approve its takeover offer for Filta. The all-share deal, which values Filta around GBP50 million, was agreed last month. Franchise Brands says has acceptances or undertakings to accept the offer for 23.8 million Filta shares, 81.8% of the total, unchanged from when the offer was first announced. Filta share holders will receive 1.157 Franchise Brands shares for each Filta share, worth 170.7 pence at the time the offer was made. The offer remains open until April 19.
Filta current stock price: 154.50p, up 0.7% on Monday
12-month change: up 42%
Franchise Brands current stock price: 155.00p, up 1.6% on Monday
12-month change: up 33%
By Tom Waite; thomaslwaite@alliancenews.com
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Franchise Brands (FRAN)