UK poultry-to-fish company Boparan Holdings has extended the deadline for shareholders in takeover target Northern Foods to accept or reject its GBP342m (US$556.6m) bid for the business.
Boparan, owner of poultry supplier 2 Sisters Food Group and the Harry Ramsden’s fish and chip shop chain, has given Northern investors until 16 March to sell their shares.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The original deadline ended yesterday (2 March) and, in a statement to the London Stock Exchange, Boparan said over a third of Northern shareholders had now backed its offer.
Boparan’s offer has received the support of the Fox’s biscuit maker’s board and scuppered the plans of Irish food maker Greencore to merge with Northern.
In November, Greencore and Northern announced plans to create Essenta Foods, a UK supplier with annual sales of GBP1.7bn.
Greencore has reportely been in talks with private-equity firms over a possible bid for Northern. One report in the UK two weeks ago said Greencore had teamed up with one buyout house to look at a possible deal.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
