Boparan told to put up or shut up over Northern takeover interest

THE TAKEOVER Panel issued a “put up or shut up” deadline on food tycoon Ranjit Boparan yesterday over his interest in taking over Northern Foods.

Boparan has until 21 January to make a firm bid for Northern, which is currently working with Irish convenience food maker Greencore on a merger that would create a company with turnover of £1.7bn.

His firm Boparan Holdings, which owns Harry Ramsden’s fish shop chain, has been given access to Northern’s books to conduct due diligence but has not put a value on its potential offer.

Northern welcomed the decision and said it would continue to recommend that shareholders approve the merger with Greencore at a vote on 31 January.