LONDON (dpa-AFX) - Premier Foods plc (PFD.L) Wednesday said the revised offer from McCormick & Company, Inc. ( MKC) continues to undervalue the company and its prospects. The revised offer equals an indicative price of 65 pence in cash per Premier share.
However, Premier Foods said it is prepared for meetings to take place in order to discuss value drivers, a review of material pensions documentation, current trading and material contracts. It will further see whether McCormick will increase its offer price to a recommendable level.
The Board has informed McCormick that it will be expected to provide an improved proposal following these meetings. Generating shareholder value remains the Board's key focus.
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