Greencore seeks partners for Northern Foods assault

17th Feb 2011 18:16

Speculation is growing that Irish food group Greencore is poised to re-enter the battle for Northern Foods after holding discussions with potential private equity partners. The Telegraph reported Greencore was allowed this week to look at figures on how Northern Foods has been trading recently ahead of a possible new offer.Greencore agreed a merger with Northern last November only to be trumped by a 73p a share cash bid last month from chicken tycoon and Harry Ramsden fish and chip owner Ranjit Singh Boparan.At end January, Greencore said it was considering its options after the Boparan offer, but said it still thought the logic of merging with Fox's biscuits maker Northern Foods was sound. Northern's share price has stayed consistently above 73p in recent weeks, suggesting some in the market expect a new, higher offer.