. Amalgamation of Avonmore Co op and Waterford co op, with Avonmore offering £337 million for the Waterford

. Waterford Shareholders offered 29 Avonmore shares for every 50 Waterford Foods plc shares, an improvement on the original one for two offer. Waterford shares valued at 142p each.

. Some £79 million of the enlarged group's shares to be transferred to Avonmore and Waterford farmers in a share spinout.

. Waterford milk price to be brought up to Avonmore level, an increase of around 4.25p after recent 1p cut by Waterford. Promise to maintain a 3p premium over the national average until the year 2000.

. Board of coop of merged organisation to comprise 13 Avonmore members and 13 from Waterford, the Avonmore managing director and a Waterford executive for four years.

. Existing 35 members of Waterford Coop board will join 51 members of Avonmore council to form Avonmore Waterford council.

. The board of Avonmore Waterford plc to have 19 Avonmore members (including 13 farmers) and 17 Waterford members (including 13 farmers), for first four years.

. Rotating chairmanship of the plc add coop boards for four years. Avonmore and Waterford to have representation for two years each initially, with Avonmore going first.

. In the year 2000 the two boards will be rationalised, with the plc board of the merged group moving to 14 farmers, four executives and two non executives and the coop board containing 14 farmers and two executives.