Greencore Agrees to Buy Foodmaker Bakkavor in £1.2 Billion Deal
Convenience food manufacturer Greencore Group Plc agreed to buy rival Bakkavor Group Plc for about £1.2 billion ($1.6 billion).
The company will pay 85 pence in cash and 0.604 Greencore shares for each Bakkavor share, according to a statement Thursday. Greencore's shareholders will own about 56% of the combined group, with Bakkavor's holding the rest.
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