Boparan seals Northern Foods takeover
IRISH competition authorities have removed the final hurdle to food tycoon Ranjit Boparan’s takeover of Northern Foods.
The West Midlands-based poultry magnate, who is paying £342m for the group, said his offer is unconditional in all respects after the Irish Competition Authority “determined that the offer may be put into effect.”
He will pay shareholders within two weeks, he said.
Mr Boparan’s offer of 73p per share will remain open for acceptances until further notice, he added.
Leeds-based Northern Foods, which makes Goodfella’s pizza and Fox’s biscuits, is expected to be delisted on or near May 11.