Feb 22 (Reuters) - Saputo Inc
* SAPUTO INC. DAIRY CREST GROUP - RECOMMENDED CASH ACQUISITION OF DAIRY CREST PLC
* SAPUTO INC - UNDER TERMS OF ACQUISITION, EACH SCHEME SHAREHOLDER WILL RECEIVE 620 PENCE IN CASH FOR EACH DAIRY CREST SHARE
* SAPUTO INC - VALUING DAIRY CREST'S EXISTING ISSUED AND TO BE ISSUED ORDINARY SHARE CAPITAL AT APPROXIMATELY £975 MILLION
* SAPUTO INC - DEAL VALUES DAIRY CREST'S EXISTING ISSUED AND TO BE ISSUED ORDINARY SHARE CAPITAL AT APPROXIMATELY £975 MILLION
* SAPUTO INC - SAPUTO HAS RECEIVED IRREVOCABLE UNDERTAKINGS TO VOTE, OR PROCURE VOTE, IN FAVOUR OF SCHEME AT COURT MEETING
* SAPUTO - DAIRY CREST DIRECTORS INTEND UNANIMOUSLY TO RECOMMEND SHAREHOLDERS TO VOTE OR PROCURE VOTE IN FAVOUR OF SCHEME AT COURT MEETING, RESOLUTION
* SAPUTO INC - DAIRY CREST'S BOARD IS UNANIMOUSLY RECOMMENDING ALL-CASH OFFER BY SAPUTO
* SAPUTO INC - COMBINED GROUP'S HEADQUARTERS WILL BE LOCATED AT SAPUTO INC.'S HEAD OFFICE IN MONTRÉAL
* SAPUTO INC - SAPUTO INTENDS THAT MANAGEMENT OF UK OPERATIONS WILL CONTINUE TO BE BASED IN SURREY, ENGLAND
* SAPUTO INC - SAPUTO EXPECTS EXISTING NON-EXECUTIVE DAIRY CREST DIRECTORS WILL RESIGN FROM OFFICE AS DIRECTORS OF DAIRY CREST WITH EFFECT FROM DATE
* SAPUTO INC - GIVEN THAT SAPUTO DOES NOT HAVE A PRESENCE IN UK, SAPUTO FORESEES ONLY LIMITED "RATIONALISATION" OF EMPLOYEE ROLES FOLLOWING ACQUISITION
* SAPUTO INC - DOES NOT INTEND TO MAKE ANY MATERIAL CHANGE IN CONDITIONS OF EMPLOYMENT OF EMPLOYEES AND MANAGEMENT OF DAIRY CREST GROUP
* SAPUTO INC - SAPUTO INC. HAS AGREED TO GUARANTEE ALL PRESENT AND FUTURE EMPLOYER OBLIGATIONS TO MAKE PAYMENTS IN RESPECT OF DB SCHEME
* SAPUTO INC - CASH CONSIDERATION PAYABLE BY SAPUTO UNDER TERMS OF ACQUISITION WILL BE FUNDED FROM DEBT TO BE PROVIDED UNDER A CREDIT AGREEMENT
* SAPUTO - FOLLOWING DEAL COMPLETION, DAIRY CREST'S EXISTING FINANCIAL INDEBTEDNESS WILL BE REFINANCED USING DEBT TO BE PROVIDED UNDER CREDIT AGREEMENT
* SAPUTO INC - LAZARD CONFIRMS THAT IT IS SATISFIED THAT RESOURCES ARE AVAILABLE TO SAPUTO TO SATISFY IN FULL CASH CONSIDERATION PAYABLE UNDER TERMS