McCormick walks far from Premier Foods takeover

88
Source:   —  April 13, 2016, at 10:42 AM

S. spice maker McCormick Foods () walked far from its takeover proposal for British food company Premier Foods () on Wednesday. McCormick said in a statement that following due diligence it'd decided it'd not be able to propose a price that'd be recommended by Premier'south board, while also delivering appropriate returns for its own shareholders.

U. S. spice maker McCormick Foods () walked far from its takeover proposal for British food company Premier Foods () on Wednesday.

McCormick said in a statement that following due diligence it'd decided it'd not be able to propose a price that'd be recommended by Premier'south board, while also delivering appropriate returns for its own shareholders.

Premier in turn said it and its advisers had "engaged extensively" with McCormick to allow it with the information requested, adding that the board "appreciates the open and constructive spirit in which the engagement with McCormick was conducted".

The maker of Mister Kipling cakes and Bisto gravy said it "sees a powerful future for an independent Premier Foods, and believes that the foundations have been laid for significant growth and

shareholder cost creation".

It repeated that its longer-term prospects will be enhanced by the cooperation agreement it signed with Japanese noodle maker Nissin Foods Holdings (), which it said will widen its range of growth opportunities.

(Editing by Alexander Smith)

READ ALSO
Peabody, world'south top private coal miner, files for bankruptcy

Peabody, world'south top private coal miner, files for bankruptcy

S. bankruptcy protection on Wednesday in the wake of a sharp fall in coal prices that left it unable to service a recent debt-fueled expansion into Australia.

81
Asian stocks lifted by optimism on oil prices, Wall Str

Asian stocks lifted by optimism on oil prices, Wall Str

KEEPING SCORE: Japan'south benchmark Nikkei two hundred twenty-five added 2.8 % to finish at 16.381.22. Hong Kong'south Hang Seng gained 2.4 % to 21.000.61, while the Shanghai Composite index climbed 1.5 % at 3.069.74.

88
GOP befriends airline passengers _ up to a point

GOP befriends airline passengers _ up to a point

In an election year that's thus distant been defined populist rage, Republicans are walking a fine line as they seek to reply to passengers angered at their treatment by airlines without violating conservative tenets by imposing potentially costly regulations...

52
JetBlue plans to widen premium Mint service after losing a tender to purchase Virgin America

JetBlue plans to widen premium Mint service after losing a tender to purchase Virgin America

JetBlue said Tuesday that it plans to widen its favorite transcontinental service, dubbed Mint, at major W Coast destinations including Los Angeles, San Francisco, San Diego and Seattle.

53