McCormick & Co., a U.S. spice company, has raised its possible offer for UK’s Premier Foods Plc, calling board of Premier to engage to agree on a recommended offer.
McCormick’s two previous offers were snubbed by Premier Foods, saying its last proposal of 60 pence per share, worth 1.5 billion pounds including debt and pension liabilities, “significantly undervalued” it.
McCormick proposed an offer of 65 pence per Premier share on Wednesday.
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