Calyx today announced agreement on the terms of an acquisition by the Stornoway consortium.
That consortium includes Maurice Healy, the chairman and chief executive of Calyx, who owns 27.8 per cent of the existing share capital of the company.
The existing share capital of Calyx is currently valued at approximately £70.2 million (€103.75).
In a statement today, the directors said that each shareholder will receive 101 pence in cash per cancellation share, representing a premium of approximately 23.9 per cent on the closing price of 81.5 pence per Calyx share on 12th March - the last business day prior to the commencement of the offer period.
Mr Healy owns over 19 million shares in Calyx and has agreed to exchange over 13 million of those for an investment in the Stornoway group and to exchange the remaining shares for cash under the aquisition scheme.