British dairy firm Arla Foods has said it is in "advanced" talks over a buyout by its main shareholder.
Anchor is one of Arla's brands
Swedish-Danish co-operative Arla Foods Amba, which already owns 51% of the UK firm, has offered 71 pence a share for the rest of the company.
The bid values Leeds-based Arla Foods UK at about £430m.
Arla Foods UK was created in 2003 when the Swedish-Danish firm merged its UK unit with Express Dairies. Its brands include Lurpak and Anchor butter.
Arla Foods UK has 3,000 staff and annual sales of more than £1bn.