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Premier prepared to meet McCormick

30 March 2016 13:15

Premier Foods' board has noted the revised possible offer from McCormick & Co at 65p per share.

The board believes the revised proposal continues to undervalue Premier and its prospects but it is prepared for meetings to take place in order to discuss value drivers, a review of material pensions documentation, current trading and material contracts, and so to establish whether McCormick will increase its offer price to a recommendable level. It will also be important for McCormick to demonstrate to the Board that any revised proposal is deliverable. The board has informed McCormick that it will be expected to provide an improved proposal following these meetings. Generating shareholder value remains the Board's key focus.

At 1:15pm:

(LON:PFD) Premier Foods PLC share price was +2.75p at 59.25p

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