Glanbia Cooperative Society has voted to revisit the decision to sell Glanbia’s Irish Dairy budiness to the Co-op members at the AGM of the society this week.
The Barrowvale region representation brought forward the proposal at Wednesday’s meeting. Some 150 members were in attendance.
This comes in the wake of coments made by Glanbia Co-op chairman Liam O’ Herlihy following the defeat of the initial proposal that ‘there would be no Plan B’.
The proposed deal to sell the Irish dairy business to its majority shareholder for some €350 million was narrowly defeated by members on May 10 last causing surprise and disappointment all round. However, although the deal was supported by 73 per cent of the members, the proposal requires 75 per cent support.
The support offered at this week’s meeting is seen as an indication of the level of support among farmers for revisiting the deal in some form.
A second resolution, which tabled a motion of no confidence in the co-operative board, was defeated at the meeting.
Mr Herlihy told members yesterday that it was unlikely that any deal would be reignited before the end of the summer.
