AUSTRALIA: Burns Philp ups stake in Goodman Fielder to more than 50%
New Zealand spice maker Burns Philp has said its stake in Australian food giant Goodman Fielder is now more than 50%. Burns Philp will now seek control of Goodman Fielder's board, allowing the New Zealand company to secure financing for the bid of more than A$2bn (US$1.2bn) and declare its offer unconditional, reported Dow Jones Business News.
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