This merger was achieved by a Scheme of Arrangement unanimously approved by the shareholders of each company and sanctioned by the Federal High Court and all appropriate regulatory authorities.
These regulatory authorities include but are not limited to; the Securities and Exchange Commission , the Corporate Affairs Commission and the Federal Board of Inland Revenue. The Consent of Creditors was also duly obtained and the Federal Competition Commission and all other relevant Stakeholders duly notified.
The merger guarantees that Dufil Prima Foods as the surviving and enlarged company shall be a stronger and more dependable manufacturing company that has the critical mass, product line diversity, structure and market intelligence to compete in the same market as other big manufacturing companies. This, the company said, is an attractive combination for stakeholders as customers will benefit from its wider and better-integrated array of products and services; employees will enjoy the advantages and opportunities of being a part of a larger, stronger company; and shareholders will have the opportunity to continue to participate in the success of a bigger enterprise.
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