Northern Foods confirms Boparan bid

In a notice to the stock market, Northern said it had noted recent press speculation relating to a possible offer for the company by Boparan and confirmed it had received a letter from Boparan on 17 December requesting access to certain information. However, it went on to say the letter contained no further details regarding Boparan's intentions and Boparan had not made an offer proposal nor has it indicated the price at which any offer may be made. Northern said it continued to believe that its proposed merger with Greencore Group to form Essenta Foods, which was announced on 17 November, offered substantial benefits for its shareholders, customers and employees and would create a convenience foods business with a strong platform for further growth and the potential to realise significant cost savings through synergies. For its part, Boparan confirmed that it was at a preliminary stage in evaluating a possible cash offer for Northern Foods – said in press reports to be worth £300 million – and had requested information under the Takeover Code. Both sides said further announcements would be made as and when appropriate.