With the hostile takeover bid for honey healthcare company Comvita almost certain to fail, the company the company says it will now focus on returning value to shareholders.

Comvita chairman Neil Craig told Country99TV the “cheeky” $2.50 a share bid by Singapore-listed Cerebos is almost dead in the water, but it has definitely put a spring in the company’s step.

“We’ve gone about our business in a long-term plan, not thinking seriously about the prospect of being taken over by someone.

"But now we sort of realise we’ve got to start performing from a financial point of view, as opposed to just a big strategic vision.”   

Mr Craig says the company has been working hard over the last several years to build the business platforms for success, and 2011/12 was always the year it would be realising the benefits.

“We were there anyway. We’ve done a lot of hard yards over the last five or six years in terms of ingredient platform, in terms of distribution network.

"This was the year we were starting to deliver anyway, so it’s just put a put more focus and attention on that anyway I suppose.”

The Cerebos offer officially ends on December 22.