MULTINATIONAL group Uniliver, which controls 75 per cent of Irish tea and coffee distributor Lyons Irish Holdings, has finally run out of patience with the minority Lyons' shareholders refusal to accept its 323.3p a share offer for their equity. Uniliver this week declared the offer final, it will not be increased, and it will close of November 29th. Analysts believe that Uniliver will get some acceptances but not enough to enable it to compulsorily mop up the outstanding shares, leaving a residual "fifth column" of aggrieved equity holders.

Lyons is a cash rich company, sitting on £51 million in liquid assets. There is concern over what plans, if any, Uniliver has in mind for the capital. Future dividend policy is another issue concerning minority shareholders. There is conjecture that Uniliver, which bought the 75 per cent shareholding in Lyons' from drinks group Allied Domecq for £73 million, might used the Lyons cash for offset the costs of the deal. Lyons holds its annual general meeting next month. It promises to be a lively affair.