MULTINATIONAL grouping Unilever, the majority shareholder in tea and coffee distributor Lyons Irish Holdings, have passed on the opportunity to provide a sweetener to induce minority shareholders to drop their opposition to its 323p offer for their shares. Annual results from Lyons Irish this week covering the year to mid-August show a virtual standstill in profits of £6.15 million and a slight contraction in operating profit margins. A final dividend of 12.8p has been declared with Unilever deciding not to beef up shareholders' return with any "special" payment.

It had been suggested that Unilever, which controls 75 per cent of Lyons Irish, would make some form of cash gesture to help speed the process of mopping up the outstanding 25 equity. The 323p unconditional offer, rejected by minority holders two months ago, remains unaltered.