Northern's vote on Greencore delayed

By Daily Mail Reporter
Updated:

 

Northern Foods postponed a shareholder meeting to vote on the proposed merger with Greencore at the last minute to give its spurned marriage partner time to decide whether it wants to make a counter offer.

Having agreed to a tie-up with the Dublin-based supermarket sandwich maker Greencore, Northern Foods last month backed a £342m offer from the chicken magnate Ranjit Singh Boparan.

Greencore has said it is still considering its options but has yet to act.

Fox biscuits and Goodfella's pizza maker Northern postponed the shareholder meeting after a request on Friday from Greencore.

It only informed shareholders yesterday morning in a statement that it wanted to adjourn the meeting.

Shares in Northern Foods were flat at 74.5p on Monday.

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