Boparan buys up Northern Foods shares January 25, 2011 BOPARAN Holdings built up its stake in takeover target Northern Foods to 11.4 per cent yesterday, after several large shareholders sold their stakes for Boparan’s 73p per share offer price. Boparan, which made its takeover bid on Friday night, said in a statement it had snapped up 22.4m shares to bring its total to 53.3m. [...]
Greencore rejoins fight for Northern January 24, 2011 SHARES in Northern Foods rose 17.5 per cent yesterday following potential partner Greencore’s pledge to improve its merger offer. Greencore yesterday responded to Ranjit Boparan’s takeover bid for Northern by acknowledging “the importance attached…to the certainty of cash value” in the counter offer and promising to consider its own options. It is understood that Greencore [...]
Greencore to fight rival bid January 23, 2011 GREENCORE is expected to sweeten its merger deal with Northern Foods this week in an attempt to best Boparan’s £342m cash takeover offer. Dublin-based Greencore is considering adding a cash sweetener on top of its all-share merger with Northern, according to people familiar with the companies. Northern’s board has dropped its support for the Greencore [...]
Greencore to fight rival bid January 23, 2011 GREENCORE is expected to sweeten its merger deal with Northern Foods this week in an attempt to best Boparan’s £342m cash takeover offer. Dublin-based Greencore is considering adding a cash sweetener on top of its all-share merger with Northern, according to people familiar with the companies. Northern’s board has dropped its support for the Greencore [...]
Northern Foods agrees £342m takeover by Boparan January 21, 2011 NORTHERN Foods has agreed to be taken over by businessman Ranjit Boparan in a deal worth 73p per share in cash, valuing the maker of Goodfella’s Pizza and Fox’s biscuits at £342m. In a statement, Northern Foods it withdrew support for the previously-proposed takeover by Ireland’s Greencore Group and instead recommended shareholders accept the offer [...]
Boparan races to ready offer for Northern Foods January 20, 2011 ADVISERS for Boparan have been working through the night to put together a bid for Northern Foods, although it was still uncertain yesterday whether the firm would make a formal bid before the Takeover Panel deadline of 5pm today. Boparan’s team has been trying to thrash out a deal with Northern Foods’ pension trustees, who [...]
Boparan races to ready offer for Northern Foods January 20, 2011 ADVISERS for Boparan have been working through the night to put together a bid for Northern Foods, although it was still uncertain yesterday whether the firm would make a formal bid before the Takeover Panel deadline of 5pm today. Boparan’s team has been trying to thrash out a deal with Northern Foods’ pension trustees, who [...]
BEST OF THE BROKERS January 18, 2011 GREENCORE RBS rates the Irish convenience foods producer “buy” with a target price of €1.50. The broker believes Greencore enjoyed solid trading over Christmas, though it expects raw material cost inflation to continue to dampen profits. RBS believes its short-term price is likely to be driven by its proposed merger with Northern Foods. PRUDENTIAL Nomura [...]
Boparan races to prepare an offer for Northern before its takeover deadline January 17, 2011 CONVENIENCE foods tycoon Ranjit Boparan is gearing up to make an offer for Northern Foods ahead of his Takeover Panel deadline of Friday, a person familiar with the matter said yesterday. Boparan asked bankers at Rothschild to examine Northern’s books last month, and is racing to complete due diligence and make an announcement this week [...]
Northern Foods still open to other takeover bids says CEO January 13, 2011 NORTHERN Foods reported in line Christmas trading yesterday, as its acting chief executive said the door was open for tycoon Ranjit Boparan to make a counter bid that could derail its merger plans. Northern Foods is set to put its £1.7bn merger with Irish food manufacturer Greencore to a shareholder vote on 31 January, but [...]