Grocery wholesaler Metcash Trading Limited and its takeover target Foodland Associated Limited both requested a halt to trading in their shares today (Monday), pending an announcement on the proposed takeover, suggesting that they may be close to a deal.
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“The discussions referred to in our announcement of 20 May have now progressed to a stage where Metcash considers it appropriate to request a trading halt,” Metcash said “The event which will end the trading halt is the making of an announcement. Metcash requests that the trading halt remain in place until the earlier of the making of that announcement and open of trading on Wednesday 25 May.”
