Premier Foods has rejected a bid from US food giant McCormick, claiming it has undervalued the UK brand which produces household staples such as Mr Kipling, Oxo, Bisto, Homemade and Batchelor’s.
On Wednesday morning, Premier Foods announced that it has rejected a second bid from McCormick & Co, which produces spices, herbs, and flavourings, according to Reuters.
A bid issued on 12 March was rejected, and, most recently one presented 14 March, sitting at an estimated $700m, was also turned down.
Premier chairman, David Beever, said: “McCormick’s proposal significantly undervalues the business.
“(It) fails to recognize the value of Premier’s performance to date and Read full story ›
Source: The Drum
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