Greencore seeks bid partner February 17, 2011 GREENCORE has leapt back into the Northern Foods fight, after meeting with the Northern board to warn them of a further bid backed by private equity, people familiar with the situation said yesterday. Greencore has kept the identity of its potential private equity partner close to its chest, refusing to tell even the Northern board [...]
Greencore makes Williams CFO February 16, 2011 IRISH food group Greencore has named Alan Williams as its new chief financial officer. The 41-year-old will serve as executive director and chief financial officer from 7 March, replacing Geoff Doherty who left the position last year. Williams moves from the Cadbury Group where he was the global corporate finance director. He is an associate [...]
Greencore makes Williams CFO February 16, 2011 IRISH food group Greencore has named Alan Williams as its new chief financial officer. The 41-year-old will serve as executive director and chief financial officer from 7 March, replacing Geoff Doherty who left the position last year. Williams moves from the Cadbury Group where he was the global corporate finance director. He is an associate [...]
Boparan to forfeit his dividend February 10, 2011 Ranjit Boparan will forfeit £36m of dividend payments over three years while he overhauls convenience foods maker Northern Foods, according to his takeover documents lodged this week. Boparan has brokered a deal with Northern’s pensions trustees to plug the £142m deficit in the fund, which will involve pouring in £15m a year, funded in part [...]
Date set for Northern Foods deal February 9, 2011 Ranjit Boparan yesterday published offer documents for his planned takeover of Northern Foods, setting the clock ticking for Greencore’s possible counter-offer. BH Acquisitions, the vehicle used by convenience foods tycoon Boparan to advance on Northern, has given shareholders until 1pm on 2 March to accept his 73p per share cash offer. Boparan plans to remove [...]
Northern Foods sale near February 6, 2011 RANJIT BOPARAN is getting ready to publish more details of his £342m takeover bid for Northern Foods, which could be sent to shareholders as soon as today, sources said yesterday. Boparan’s bankers at Rothschild and Goldman Sachs were this weekend putting the finishing touches on Boparan’s takeover papers, which are understood to include further details [...]
Greencore delays vote at Northern January 31, 2011 GREENCORE successfully postponed Northern Foods’ shareholder meeting yesterday, giving it more time to put together an improved offer to rival Boparan’s £342m takeover. Northern Foods and Greencore, which agreed to merge in November before Boparan intervened, held meetings with the Takeover Panel over the weekend to decide whether to cancel their planned votes on the [...]
Greencore delays vote at Northern January 31, 2011 GREENCORE successfully postponed Northern Foods’ shareholder meeting yesterday, giving it more time to put together an improved offer to rival Boparan’s £342m takeover. Northern Foods and Greencore, which agreed to merge in November before Boparan intervened, held meetings with the Takeover Panel over the weekend to decide whether to cancel their planned votes on the [...]
Northern Foods plans vote January 30, 2011 NORTHERN FOODS is still due to hold a shareholder meeting today to vote on its proposed merger with food manufacturer Greencore, despite its board switching to recommend a rival takeover bid by Boparan more than week ago. The Northern investor meeting can only be called off with the permission of Greencore, under the terms of [...]
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. [...]