Premier Foods says Japan's Nissin to take 17% stake
London
PREMIER Foods Plc, seeking to fend off an unsolicited takeover bid by US spice processor McCormick & Co, said on Thursday that Japanese instant noodle purveyor Nissin Foods Holding Co has agreed to buy a 17 per cent stake. Premier shares plunged.
Nissin will have the right to nominate one director to Premier's board, the UK company said in a statement. The maker of Top Ramen will purchase the stake from an existing shareholder, according to the statement.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
TikTok tells advertisers: ‘We are not backing down’
EV automakers get reprieve in US tax credit rules
Nomura, Mizuho face losses on All Blue fund’s failed trades
Stablecoin Tether steps up monitoring in bid to combat illicit finance
HSBC asked by US$890 billion investor group to set energy goal
BHP’s biggest rivals sit on the sidelines of Anglo M&A drama