The takeover of potato products maker Mr Chips is inching towards certainty after more institutional shareholders agreed to accept Simplot Australia's impending takeover offer.
Agreements with Balle Bros and Jon Davison gives food manufacturer Simplot a holding of 79.87 per cent of Mr Chips on a conditional basis.
Like with majority shareholder Sinclair Long Term Holdings and institutional shareholder Anglesea Consulting, the agreements with Balle Bros and Davison commit both parties to accepting an offer at or above $2.90 a share.
Balle and Davison each hold a 15.48 and 0.72 per cent stake in Mr Chips respectively.
Simplot has indicated that it intends to only hold around 60 per cent of Mr Chips, with institutional shareholders taking up the remaining 40 per cent of the Simplot subsidiary.
Simplot has indicated that it intends to only hold around 60 per cent of Mr Chips, with institutional shareholders taking up the remaining 40 per cent of the Simplot subsidiary.
