US company known for Schwartz spices ups offer to 65p a share in cash as battle for control of firm behind Mr Kipling heats up
The battle to take control of Premier Foods is heating up, with its American suitor McCormick making a higher takeover bid that values the company behind Mr Kipling cakes and Ambrosia custard at £1.5bn.
McCormick, known for Schwartz dried spices and sauces, raised its proposed terms to 65p a share in cash from earlier bids of 60p and 52p, which were both rejected by Premier as too low. It said this revised offer “should be well received by Premier Foods’ shareholders, employees, pensioners, creditors and other stakeholders”.
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