Wilmar, First Pacific lower Goodman bid

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, the buyers will pay A$0.675 a share.

"As contemplated in previous announcements, Goodman Fielder will also be permitted to pay a final dividend of A$0.01 per Goodman Fielder share for the year ended June 30, 2014 to its shareholders," Wilmar said.