IRELAND: Greencore takeover talks come to nothing

By Dean Best | 6 December 2011

Talks over the sale of Greencore, the Ireland-based own-label food maker, have ended.

Greencore, which said in October that it had received an approach to buy the business, revealed yesterday (5 December) that discussions had failed to lead to a proposal that was "acceptable" to its board.

"Given the board's unanimous view on the strong underlying value of Greencore and the current dislocation in global equity and debt capital markets, both parties have agreed to end discussions," Greencore said.

"Accordingly, the board can confirm that the company is no longer engaged in any discussions regarding a potential offer for the company."

There had been speculation that US private-equity firm Clayton Dubilier & Rice was the mystery suitor, although neither side made any public comment.

Sectors: Chilled foods, Mergers & acquisitions, Private label

Companies: Greencore

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