THE offer to buy Littleton and Badsey Growers undervalued the company, the LBG board claims.

The future of the co-operative is at the heart of controversy between the board and its shareholders.

"Many shareholders want to sell the company but the board wants to keep and develop it.

Now the board has circulated all members of the Vale co-operative in response to members of the society who have called an extraordinary general meeting of LBG to be held at Evesham Town Hall next Wednesday for members to vote on the bid.

The offer for LBG was £6.35 for every £1 share, but the board says no long term commitment was given to continue the business or keep present staff. Horticultural industry has declined in the Vale," the board's letter says.

"However LBG is able to cover a larger catchment area with better communications (road, information technology etc).

"Gardening is a very popular leisure pursuit which we are able to cover extremely well.

"The herbery is continually under review, however it continues to add to LBG profits."

The board stresses: "Our main objective is to maintain sundries supplies to the industry.

"Training of staff is vital in order for them to cope with new technology.

"This should make them more efficient leading to higher profitability."

The message adds: "Expansion in the 1980s was excessive. We intend to modernise the company enabling us to move forward.

"The cost of this exercise will be monitored as part of our overall business plan with a view to increasing shareholder value."

The company which made the bid and whose identity has not been revealed, is also circulating all members before next week's meeting with details of how it would see the future of the society if it had control.