Greencore delays vote at Northern

first_imgMonday 31 January 2011 9:05 pm GREENCORE successfully postponed Northern Foods’ shareholder meeting yesterday, giving it more time to put together an improved offer to rival Boparan’s £342m takeover. Northern Foods and Greencore, which agreed to merge in November before Boparan intervened, held meetings with the Takeover Panel over the weekend to decide whether to cancel their planned votes on the all-but-defunct merger deal. Northern had hoped to hold its EGM to allow its shareholders to decisively reject Greencore as a partner, leaving it clear to press on with Boparan’s plan. The shareholder votes were required under European cross-border M&A rules. Meanwhile, Greencore’s annual general meeting went ahead yesterday without a vote on the tie-in. Greencore’s management said it was continuing to examine its options to improve upon Boparan’s all-cash bid, which is thought to include adding a cash sweetener to its earlier no-premium merger package. Greencore chairman Ned Sullivan told investors in Dublin that the firm managed to increase revenues from convenience foods by 7.6 per cent compared to last year in the three months leading up to Christmas, and that it is on track for a strong performance in 2011. Greencore delays vote at Northern whatsapp whatsapp Tags: NULL Share Show Comments ▼ KCS-content Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautCheese Crostini: Delicious Recipes Worth CookingFamily Prooflast_img

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