The recent decision by Brittany Ferries to stop carrying livestock on its routes has left Irish Ferries as the only company offering a direct service to Europe for live exports.

Representatives from Independent Ireland said at a public meeting this week that they have a meeting scheduled with Irish Ferries for 21 August.

They say they want to establish if Irish Ferries have any extra capacity and a willingness to offer additional sailings.

At a minimum, they are seeking a commitment from Irish Ferries to continue to export livestock on its services.

They may find that management at the shipping company are unable to give many long-term commitments as they are currently in the middle of battle over ownership of the company.

At the end of July, the board of Irish Ferries’s parent company, Irish Continental Group, recommended shareholders accept a management-led buyout priced at €8 per share.

Before that announcement, shares in the company were trading at €6.25 each.

The buyout is being led by Eamonn Rothwell, chief executive of the company, and owner of 21.7% of the shares in the business.

There is an emergency general meeting of shareholders scheduled for 28 August to vote on the proposed buyout.

Rothwell said he considers that the terms of the deal offered are “very fair” and confirmed this week that financial terms offered are “final and will not be increased”.

Reaction from other investors has been mixed, Major advisory firm Institutional Shareholder Services (ISS) suggested that shareholders should back the proposal as it offers an “attractive premium” on the pre-offer stock price, adding that the all-cash payment gives “shareholders immediate liquidity and certainty of value”.

Other investors, who own around 11% of the business have expressed disappointment at the size of the offer.

Those investors, including Marathon Asset Management, Janus Henderson and Pageant Investments, have reportedly written to the board of Irish Continental Group voicing their objections to the deal.

They argue that the valuation of €8 per share is not reflective of the true value of the business.

This is Rothwell’s second attempt to takeover the company. In 2007 an attempt ran into a bidding war and was eventually abandoned.

For Irish farmers and the beef sector, it is unlikely that any clarity on the future of Irish Ferries’ live export business will be forthcoming until the current takeover move has been completed.

Shares in Irish Continental Group were trading at €7.70 this week, a 3.75% discount to the offer price.