No need for an injunction, as at five to midnight –On 21 July, BP-Nutrition agrees to the takeover bidliterally five minutes before the 12 a.m. ultimatumof the Rijk Zwaan Board after all (with co-financingexpires – director Ben Tax receives a messagefrom Cebeco). This agreement gives Cebeco thefrom Asgrow requesting that the Asgrowmajority of the shares (70 per cent), but the Boardemployees be sent away from the warehouse.stipulates equal independence (control split 50/50between the Rijk Zwaan Board and Cebeco).In the days that followed, Rijk Zwaan continues toIn order to guarantee this independence, thesend fax messages to BP in which all the partiesBoard – in close consultation with its lawyer,– the Board, directors, subsidiaries, managementMr Voûte – has the agreements between the twoteam and works council – reiterate their objectionsshareholders laid down in detail in the articles ofto Asgrow’s takeover in writing.association and shareholders’ agreement, basedon the previous agreement with Cebeco beforeOn 20 July 1989, Ben Tax receives a phone callthe bid was made. It is also agreed that if eitherfrom the law firm: ‘The sale is final.’ So it seems thatparty wants to sell its shares, those shares mustRijk Zwaan has lost the battle after all, but the nextfirst be offered to the other party.day the phone rings again. The Board membersare invited to the offices of BP’s lawyers for newnegotiations. It seems that the sustained objectionson the part of Rijk Zwaan have not missed theirmark on the other side of the North Sea.‘We kept threatening to give negative‘The moment BP Nutrition agreed to theadvice to BP-Nutrition. We hammeredmanagement buyout was such a relief!on three conditions: keeping Rijk Zwaancompletely intact, image and identityguarantees and no layoffs.’Alex SolleveldChairman of theWorks Councilin 1989.90We celebrated this with champagneoutside on the premises.The colleagueswere very happy with the news.’Linda van VeenSecretary ofBen Tax in 1989 andstill in 2024.Rijk Zwaan | Moving forward together
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