Unit holders of Menu Foods Income Fund approved a US$239 million takeover offer from Arkansas USA-based Simmons Pet Food Inc.
According to Menu Foods, 99.94% of its units and special trust units voted to approve the deal, which is expected to close in early November pending regulatory approvals. Following a massive petfood recall three years ago involving Menu Foods, the company put itself up for sale after a strategic review earlier this year. The acquisition of Simmons Pet Food marks the end of Menu's struggle to overcome the tainted petfood recall.
on September 28, 2010