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

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. ...

BLOG

Premier Foods pension news offers cheer but challenges remain

Premier Foods plc revealed today (28 March) it has secured a deal with its pension scheme trustees that will see the UK food maker reduce its pension burden....

BLOG

Another reshuffling of pack at Hain Celestial

Hain Celestial, under the scrutiny of the investment community in recent months and facing some challenges in its domestic market, has announced another shuffling of its management pack....

BLOG

FrieslandCampina looking to sell final non-dairy asset

FrieslandCampina, which today served up higher profits but lower sales for 2016, is ready to offload the last non-dairy business owned by the Dutch cooperative giant....

just-food homepage



Forgot your password?