Cargill’s bid to buy Goodman Fielder’s edible fats and oils business looks to be scuppered by the Australian competition authorities, who say it would be an unacceptable concentration of refining assets in the country.
Burns Philp's plan to raise A$2.1 billion (€1.3 billion) from a
share offering in its Goodman Fielder business underlines the
group's ambitions to dominate the Australasian ingredients market.
Goodman Fielder, Australia's largest food company, has today
rejected a hostile bid by international yeast and ingredients
company Burns Philp. Goodman Fielder advised its shareholders to
spurn the bid because "the offer...
Australian ingredients company Burns Philp has agreed to waive or
change some of the conditions of its A$2 billion (€1.1bn) takeover
bid of Goodman Fielder, Australia's largest food company, leading
the Australian Takeovers Panel...
Australian yeast and ingredients group Burns Philp & Co. said
last weekthat it has started mailing out its bidder's statement to
shareholdersof Australasia's largest food group Goodman Fielder
about its A$2billion-plus...
Despite continued economic pressures in certain Asian markets,
Australia's largest food group Goodman Fielder is performing in
line with expectations, chief executive Tom Park said earlier this
week.
Australasian food group Goodman Fielder ended months of speculation
on Friday by selling its flour milling and mixing business to
GrainCorp and US grains giant Cargill for A$200 million (€110
million).
Australian food giant Goodman Fielder said this week that it is on
track to divest its milling and gelatin assets and is proceeding as
planned with a second tranche share buyback following other asset
sales
After a year of negotiations the US Federal Trade Commission (FTC)
has finally approved a new deal that allays anticompetitive fears
over the proposed acquisition of Goodman Fielder subsidiary Leiner
Davis Gelatin by German gelatine...
Australian food giant Goodman Fielder plans to sell its
Invercargill food ingredients export business to an
Australian-owned company, writes the New Zealand Herald this week.
