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Wilmar, First Pacific lower Goodman bid

There were concerns over investments needed to turn food company around

Wilmar and First Pacific had originally offered A$0.65 a share for Goodman Fielder in late April. They later raised their offer to A$0.70 a share in May after securing the support of Perpetual and Ellerston - PHOTO: WILMAR

SINGAPORE'S Wilmar International and Hong Kong's First Pacific have lowered their joint takeover bid for Goodman Fielder after four weeks of due diligence led to concerns over the investments needed to turn around the debt-ridden Aussie bread and spreads maker.

Instead of A$0.70 a share,...