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CD&R looking to complete negotiations with Greencore

It has emerged that Clayton Dubliner & Rice has made a bid to take over Greencore.

07 November 2011

US private equity company Clayton Dubilier & Rice (CD&R) has tabled a bid to acquire Irish food group Greencore.

International business negotiations may now take place to see if an agreement can be reached between the two parties, according to the Sunday Times.

Former Tesco chief executive Terry Leahy - who worked for the company for 32 years - was hired by CD&R in March as an advisor and his knowledge of the food retail market could prove to be valuable in any talks.

Last month, it was reported that there was interest in Greencore, which itself agreed to acquire British sandwich maker Uniq for £113 million in July.

Consultations may now be at a crucial stage as both companies look to thrash out a deal that is acceptable.

CD&R has already made a number of purchases this year, including that of global cleaning and sanitisation firm Diversey Holdings for $4.3 billion (£2.7 billion).

Posted by Ron Maverick

Source: Reuters, City AM, November 6th

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