Wilmar's AUD1.3bn Bid Rejected By Goodman Fielder


News: Australian baked goods specialist Goodman Fielder has declined an AUD1.3bn (USD1.2bn) acquisition bid from Singapore's Wilmar International, describing it as 'opportunistic'. Wilmar International holds a 10% stake in Goodman Fielder and is supported by First Pacific, an investment firm controlled by Indonesia's Salim group. The current offer is the company's second attempt for Goodman after a failed offer in 2012. The acquisition would help strengthen Wilmar's existing portfolio of staple food products such as flour and cooking oil.

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Related sectors of this article: Food & Drink, Food
Geography: Australia