Arla Foods: UK's top dairy

Typo/Que
Amba are described in the article as a potential "new owner" from whom the pensions trustees have to secure a committment to fund the existing deficit

Surely Amba are already the "owner" by virtue of their 51% stake in Arla UK
and hence are already obligated to maintain the existing deficit........perhaps only from UK resources
The only difference I can see is that the acquisition of 100% of the shares may involve a technical change in the definition of the "owner" from a UK co to a UK subsidiary of a non UK co
.............perhaps requiring Amba to commit non Arla UK resources if needed to fund a UK pension deficit........??
Can`t really see the pension issue as a show stopper.......if it is somebody on the Amba Board needs their bottom smacked since the deficit existed and was no doubt evaluated when the merger took place 3 years ago
The strategy behind Amba`s initial merger was predicated on eventually extending the coop ownership concept to the UK .........events in the middle east have only strengthened this argument by reinforcing the reduced volatility of the UK market.......
......So I conclude the deal will go ahead and all this pension stuff is simply a tactical ploy to get the price down by frightening the funds
In any event if in fact the deal does fall through or get postponed the benefits of £100m capex and closures which have yet to be fully reflected in the bottom line ought to emerge during 2007 and enhance the sp
.........making the eventual bid sp even greater............