Sara Lee pulls out of Bernard Matthews bidding
bidding to acquire Bernard Matthews plc, the U.K. turkey producer,
less than two weeks...
Sara Lee Corporation, the U.S food producer, has withdrawn from the bidding to acquire Bernard Matthews plc, the U.K. turkey producer, less than two weeks after it said it might make a cash offer, the Financial Times reported yesterday. The company announced that they no longer had any interest in making an offer for the company after viewing an offer from Bernard Matthews Holdings Limited (BMH) for Bernard Matthews plc. BMH has agreed with the Matthews family and the management team to acquire 42.2% of Bernard Matthews plc's existing share capital separately outside of the offer. The offer document was posted by Bernard Matthews Holdings on November 1, to acquire the remainder of the issued and to-be-issued share capital of Bernard Matthews, the Financial Times continued.
