Blog: Dean BestThe bun fight at Inter Link Foods

Dean Best | 22 May 2007

The talks over the future of struggling UK baker Inter Link Foods are turning ugly.

This afternoon, Inter Link issued what was effectively a “put up or shut up” ultimatum to its potential suitor, the Irish food group McCambridge.

Inter Link’s rebuttal came just hours after McCambridge, which is the company’s second-largest shareholder, handed out its own threat, revealing that it is mulling whether to cool its interest in Inter Link.

The crux of the matter here is the signing (or not as is the case here) of a confidentiality agreement that would govern the rules under which McCambridge can look at Inter Link’s books.

Inter Link has insisted that McCambridge signs the agreement; McCambridge has accused Inter Link of “unreasonably” blocking access.

Inter Link, which is looking to turn around its business after a woeful 12 months, has every right to demand McCambridge’s signature before allowing the company to conduct due diligence. After all, McCambridge is a competitor and Inter Link would be shooting itself in the foot were it to allow a rival free access to its financial data.

With its threat this morning, McCambridge seems to be the “unreasonable” party, unfairly cranking up the pressure on an Inter Link board, which is facing the twin demands of reviving the company while placating nervous investors.


BLOG

Barilla puts sustainability centre stage

Barilla's 2016 results statement, published last week, makes interesting reading, not because of the Italian food group's commercial performance, but for the emphasis placed on sustainability achievem...

BLOG

UK M&A deal volumes slide in early months of 2017

Fresh data from Grant Thornton indicates the number of mergers and acquisitions in the UK food and drink sector fell to the lowest level for over two years in the first quarter of in 2017 - but the ac...

BLOG

Food policy returns to focus in Westminster

Amid the political turmoil in the UK caused by the EU Referendum, the resignation of a Prime Minister, subsequent burning debates over the Brexit “divorce” settlement and now by the surprise announcem...

BLOG

Danone closes WhiteWave, who will acquire Stonyfield?

Danone completed its US$12.5bn acquisition of WhiteWave Foods this week. The move will roughly double Danone's presence in North America, where WhiteWave is a top four dairy player. ...

just-food homepage



Forgot your password?