Boparan Given Jan 21 Deadline for Northern Foods Offer
To date Boparan has not made an offer proposal to the board of Northern Foods and there is no certainty that any offer will be made or of the terms of any such offer.
1/5/2011 --- The board of Northern Foods plc has welcomed the announcement by The Panel on Takeovers and Mergers that Boparan Holdings Limited must either announce a firm intention to make an offer for Northern Foods (where the announcement would also include the terms of the offer) or announce that it does not intend to make an offer for Northern Foods by 21 January 2011, in advance of the Northern Foods shareholder meetings on 31 January 2011.
To date Boparan has not made an offer proposal to the board of Northern Foods and there is no certainty that any offer will be made or of the terms of any such offer.
The Board continues unanimously to recommend shareholders to vote in favour of the proposed merger at the shareholder meetings on 31 January 2011. The Board continues to believe that the proposed merger with Greencore Group plc (“Greencore”) to form Essenta Foods offers substantial benefits for its shareholders, customers and employees and will create a convenience foods business with a strong platform for further growth and the potential to realise significant cost savings through synergies.
Shareholders should note that the proxy forms for the Northern Foods shareholder meetings to be held in connection with the merger with Greencore should be returned, in accordance with the instructions printed thereon and set out in the shareholder circular dated 22 December 2010, by 11am on 29 January 2011 in the case of the blue form of proxy and by 11.15am on 29 January 2011 in the case of the pink form of proxy.
