UK sugar company Napier Brown has announced that it is taling to a potential bidder.

“The board of Napier Brown has noted the recent price movement in its shares and
today’s press speculation,” it said in a statement on Tuesday. “It confirms that Napier Brown is in discussions with a third party, which may or may not lead to an offer being made for the share capital of the company.”

“Is a bid on the way for Napier Brown Foods, the maker of Whitworths sugar?,” the Guardian newspaper asked in its Tuesday edition. “That was the word in the Square Mile yesterday as the share price of the Aim-listed food company hit a record high despite news that one of its biggest shareholders, Greencore Group, had reduced its holding to 3.4%,” the paper said.