Greencore-Northern Foods Merger Could Be Scuppered By Rival Bid

It has been revealed that UK food tycoon Ranjit Boparan is considering making a bid for UK food group Northern Foods. The entrepreneur has already built a 6.6% stake in the firm through his Boparan Holdings and reports have emerged that the move is a prelude to a GBP300mn hostile bid for the firm. Northern Foods recently agreed to merge its operations with Irish-based Greencore but a takeover by Boparan could scupper this deal - a fact which drove Greencore's shares 5% lower on December 22 2010. BMI previously stated that there was compelling logic behind the merger, but if

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