Mr Kipling manufacturer Premier Foods has quashed rumours that it plans to sell its Batchelors brand to key shareholder Nissin Foods Holdings, after media reports claimed a deal between the two companies was about to be agreed.
Unilever may sell its Flora, Stork and Bertolli brands as part of its comprehensive review, according to reports, prompting the GMB union to urge the manufacturer to avoid a cost-cutting “slash and burn” policy.
Kraft Heinz’s retreat from its £115bn ($143bn) takeover bid for Unilever following a rejection by the Anglo-Dutch food giant and concerns raised by unions about potential job losses in the UK, was one of the biggest news stories to hit the headlines last...
The Fox’s Biscuits mystery takeover bid last month was launched by a consortium of City and Wall Street investors, and not a rival biscuit maker, a national news broadcaster has claimed.
Nissin Foods has acquired a 17.27% shareholding in Premier Foods, after the Mr Kipling manufacturer rejected a hostile takeover bid from McCormick & Company, claiming that it significantly undervalued the firm’s growth prospects.
Premier Foods has fended off a hostile takeover bid from McCormick & Company – because it “significantly undervalues [the manufacturer’s] growth prospects” – and agreed a partnership with Nissin Foods Holdings.
Quorn Foods is remaining quiet on reports that acquisition firm Nomad Foods and chip giant McCain Foods are preparing takeover bids for the meat-free food manufacturer, as it revealed a 50% boost in production capacity to meet surging export demand.
News that 350 people are to lose their jobs at Uniq’s Minsterley creamery is linked to Greencore’s £113m bid for the chilled foods firm and underlines the need for a ‘Cadbury’s Law’ to protect workers’ interests, argues Unite the Union.
A City analyst has expressed scepticism about the likely truth of rumours that Procter & Gamble (P&G) could be lining up a £38bn hostile bid for UK consumer giant Unilever.
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The City code regulating hostile acquisitions of UK firms needs a radical overhaul, with greater employee and community consultation at the top of the agenda, say union leaders.
Limited changes to the City code regulating hostile acquisitions of public firms are welcome, but sweeping changes risk hurting British business, top lawyers agree.
