Northern cancels shareholder meeting

Northern Foods has cancelled a proposed meeting of shareholders this morning, following the recent last-minute bid by the 2 Sisters Food Group.

The pizza and biscuit company’s shareholders had been due to meet to discuss the proposed merger with its Irish rival Greencore.

However, the board has now recommended that it accept an offer by Ranjit Boparan of 73p per share – which values the company in the region of £340m.

In a statement to the market today, Northern Foods said: “The Northern Foods board continues to intend to recommend that shareholders accept this offer. Greencore indicated on 24 January that it was evaluating its options, but there has been no revised offer from Greencore and there is no certainty that any such offer will be received.”

>> Boparan increases Northern Foods stake

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