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Greencore confirms talks on takeover approach

Greencore shares up as approach confirmed
Greencore shares up as approach confirmed

Greencore says it has received an approach which may or may not lead to an offer for the company.

In a statement, the company said it had noted the ''movement'' in its share price and said a further announcement will be made when appropriate.

Greencore shares closed up 9.5% at 68 cent this evening in Dublin. They had risen sharply before the announcement.

''The board would like to emphasise that the discussions are at a preliminary stage and there can be no certainty whether any offer will be forthcoming,'' the company added.

In July, Greencore announced a €125m deal to buy UK food group Uniq. That deal came after a planned merger with Northern Foods fell through, after the UK firm withdrew its support in favour of a cash offer from businessman Ranjit Boparan.