New Zealand spice maker Burns Philp has said its stake in Australian food giant Goodman Fielder is now more than 50%.

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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.


“The lines of communication with Burns Philp are open,” a spokesman for Goodman Fielder was quoted by Dow Jones News as saying


Burns Philp said it would make a further announcement by Tuesday morning.


Burns Philp may need to seek a shareholders meeting to overhaul the board if Goodman Fielder’s directors continue to reject the bid.

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To read a recent feature on Burns Philp’s attempt to takeover Goodman Fielder, just-food members click here.


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