UK Food Group Greencore Seals $1.6 Billion Bakkavor Deal
Convenience food manufacturer Greencore said on Thursday it had agreed to the terms of a recommended acquisition of UK fresh food provider Bakkavor Group, in a deal valued at 1.2 billion pounds ($1.59 billion).
In April, the parties said they had reached an agreement in principle on the key financial terms of a possible cash and share offer by Greencore for Bakkavor.
The offer base consideration comprises 0.604 new Greencore shares and 85 pence in cash, valuing each Bakkavor share at 200 pence, with potential
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