Kerry Co-op is reported to be on the brink of approving a €480 million bid for a majority stake in Kerry Group's dairy business.
The historic venture focuses on a section of Kerry Group's business including plants in Kerry, Cork and the UK and would see farmers control milk processing again.
It's reported any potential bid could be put to Kerry Co-op shareholders for approval as funding for the venture may come from selling shares.
Kerry Co-op shareholder Dave Scannell feels if there is too much of a haircut to shares there could be legal challenges taken by some shareholders.
Mr Scannell told Jerry O'Sullivan if a deal is to be done it should be at a fair price for shareholders but adds that if it falls through the businesses could be sold to a third party:
