April 11th - Avonmore Foods approaches Waterford Foods with an offer valued at around £281 million. Initial reaction from Waterford farmers is guarded. One farmer commented: "It won't be an easy one to sell".

April 13th - It emerges that the offer from Avonmore for Waterford is worth around £281 million, when all the components are taken into account. Avonmore says the bid would offer "substantial benefits to both Waterford shareholders and suppliers".

April 14th - Farmer opposition to the bid appears to be hardening. "No way would I want my coop to go," said one. And some farmers were openly expressing a preference for a link with Dairygold.

April 17th - Waterford plc board met but did not make any firm decision on the offer. Farmers expressed themselves as "vexed" about lack of information on the offer.

April 18th - Waterford decides to seek clarification from Avonmore on almost every aspect of the deal. A spokesman for the co-op shareholders said they were "irritated" by the manner of the Avonmore approach.

May 3rd - The boards of Waterford Co Op and Waterford Foods unanimously reject the bid. But, crucially, they said any "equitable proposal from Avonmore would be considered".

May 21st - Waterford announces a 1p milk price cut to farmers, highlighting the difficulties it still faces.

May 26th - Waterford plc and co op boards approve improved offer terms.