UNILEVER has confirmed that less than 1 per cent of the minority shareholders in Lyons Irish Holdings have accepted its offer to buy their shares. In a statement to the Irish Stock Exchange yesterday, Unilever said it had so far received 117,597 valid acceptances from shareholders, representing 0.39 per cent of the outstanding shares.

Shareholders have until the end of the month to accept Unilever's offer of 323.3p per share. Many Lyons shareholders say the price is too low. The Lyons board of directors has recommended that shareholders reject the deal.

Speaking at the group's a.g.m. in Dublin this week, Lyons chairman, Mr Pierse Butler, signalled that the company may pay shareholders a special dividend out of its £55 million cash reserves. This option, he said would be discussed later this month. At the meeting, Unilever Ireland's chief executive, Mr Jim Rice, urged shareholders to accept its offer, which he stressed was final.