Shareholders of Dangote Flour Mills Plc (DFM) on Monday approved the acquisition of the company by Olam International Limited after a whopping payment of N120 billion to the shareholders.

Olam International has made an offer for the acquisition of 100 per cent equity in Dangote Flour Mills Plc for a consideration of N24.00 per share. The acquisition was carried out through a Scheme of Arrangement.

Most of the shareholders who spoke at the meeting lauded the company’s management for the noble decision, describing it as one, in the best interest of the shareholders

Another leader of the shareholders group, Mr. Boniface Solomon, described the deal as a very good one for the shareholders.

He said the stock has really been struggling in view of the current realities in the nation’s economy, stating that the N24 per share is indeed a good price for his members.

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