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Statement re Possible Offer for Premier Foods plc

13 Apr 2016 07:00

RNS Number : 0258V
McCormick and Company, Inc.
13 April 2016
 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

FOR IMMEDIATE RELEASE

 

McCormick & Company, Incorporated announces thatit does not intend to make an offer for Premier Foods plc

 

SPARKS, MD 13 April 2016 - Further to the announcement by Premier Foods plc ("Premier Foods") on 30 March 2016, McCormick & Company, Incorporated (NYSE: MKC) ("McCormick"), a global leader in flavor, announces that it does not intend to make an offer for Premier Foods.

 

McCormick has completed its due diligence review of Premier Foods, which was conducted with the management of Premier Foods in an open and collaborative spirit. McCormick has, after careful consideration, concluded that it would not be able to propose a price that would be recommended by the Board of Premier Foods while also delivering appropriate returns for McCormick shareholders. Accordingly, McCormick has withdrawn its proposal to acquire Premier Foods.

 

This announcement is made in accordance with Rule 2.8 of the Takeover Code (the "Code"). As a result of this announcement, McCormick will, except in the circumstances set out in Note 2 on Rule 2.8 of the Code or otherwise with the consent of the UK Panel on Takeovers and Mergers, be bound by the restrictions contained in Rule 2.8 of the Code.

 

For information contact:

 

McCormick Investor Relations

Joyce Brooks (410-771-7244 or joyce_brooks@mccormick.com)

 

McCormick Corporate Communications

Lori Robinson (410-527-6004 or lori_robinson@mccormick.com)

 

Bell Pottinger

Gavin Davis 07910 104660

Liz Morley 07990 003314

 

About McCormick

 

McCormick & Company, Incorporated is a global leader in flavor. With $4.3 billion in annual sales, the company manufactures, markets and distributes spices, seasoning mixes, condiments and other flavorful products to the entire food industry - retail outlets, food manufacturers and foodservice businesses. Every day, no matter where or what you eat, you can enjoy food flavored by McCormick. McCormick Brings Passion to Flavor™.

 

For more information, visit www.mccormickcorporation.com

This information is provided by RNS
The company news service from the London Stock Exchange
 
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