McPherson’s Consumer Products’ shareholders are on tenterhooks as they wait to learn whether rival offers from packaging mogul Ruffy Geminder and pharmaceuticals giant Arrotex Australia will play out.

Mr Geminder’s offer through his private investment company Kin Group of $172 million or $1.34 a share on-market expired at 4 pm on Monday, after attracting few if any acceptances, and has not been extended.