Müller to acquire Robert Wiseman for £279.5m Robert Wiseman Dairies has accepted an all cash offer of £279.5m from Müller, a German dairy group seeking to expand its position in the UK market. The Scottish dairy producer said on Monday it had reached an irrevocable agreement to sell the company to Müller after speculation of the talks last week sent shares in the company soaring. Müller will pay 390p per share for the company, representing a 60 per cent premium on the company's closing share price from last Thursday before news of the talks emerged. Wiseman said it would unanimously recommend that shareholders accept the offer. Robert Wiseman, chairman of Wiseman, said: "The combination of Müller and Wiseman makes strong commercial and strategic sense, creating a leading integrated dairy business in the United Kingdom with complementary positions in the yoghurt and potted desserts market and the fresh milk market." The Wiseman family started the company, which supplies 30 per cent of Britain's milk, in 1944 in East Kilbride. The offer values the family's 35.1 per cent stake in the company at £98.1m. Bavaria-based Müller, which is owned by Theo Müller, is a leading European dairy company with annual turnover of €2.2bn. The company has operated through its subsidiary, Müller Dairy, within the UK since 1987, where it is the market leader in chilled yoghurts and potted desserts. Heiner Kamps, chief executive of Müller, said: "This is an exciting strategic move by Müller to enter a new market segment in the UK. The combination of these complementary businesses will form a leading dairy player offering a range of exceptional products to our customers across the UK. According to Wiseman, its management will stay in place after the deal. Shareholders as of December 30 last year will be entitled to an interim dividend of 5.75p, the company said. Wiseman has its origins as a family business and, since listing in 1994, my family has retained a significant stake in the business. It is heartening to know that the business will become part of another family-owned business in Müller," Mr Wiseman added. Wiseman also reported on Monday that rising fuel costs and low bulk cream prices were likely to impact quarterly profits in the 15 weeks to January 14 as gross margins have come under pressure. In early morning trading London-time, shares in Robert Wiseman were up more than 18.5 per cent at 388.75p.