30th Mar 2016 - 09:18
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McCormick has increased its offer for UK food manufacturer Premier Foods to 65 pence per share, after the UK giant rejected two previous bids.
The US herbs and spices manufacturer previously made a bid of 52 pence per share last month, before increasing its offer to 60 pence on 14th March.
Premier rejected both offers as the bids ‘significantly undervalued’ the company’s growth prospects.
Premier Foods also confirmed that Nissin Food Holdings has unconditionally agreed to acquire a 17.27% shareholding in Premier from an existing shareholder.
The manufacturer owns many brands including Mr Kipling, Oxo, Bisto and Homepride,
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