Birmingham entrepreneur Ranjit Boparan’s takeover of Northern Foods has been cleared by regulators. The Irish Competition Authority has given the all-clear after the Office of Fair Trading decided not to refer the merger to the Competition Commission.
This means Boparan Holdings’ takeover of the Leeds-based food manufacturer has now been given the all-clear.
In a statement today, Boparan Holdings said: “Boparan is pleased to announce that each of the conditions to the offer, as set out in the offer document, have been satisfied or waived and the offer is now declared unconditional in all respects.
“The offer will remain open for acceptances until further notice. At least 14 days’ notice will be given by an announcement before the offer is closed.”
It was confirmed that processes were underway to delist Northern Foods as Boparan owns or is in receipt of valid acceptances in respect of more than 75 per cent of Northern Foods stock.