Foreigner bids for Richmond

Dunedin meat company PPCS yesterday warned shareholders of its North Island takeover target, Richmond, the entry of UK-based Bernard Matthews Ltd into the bidding war raises issues of foreign ownership of the meat industry.

The new bid is via North Meats which posted a restricted transfer notice that it intends to buy 24 million shares or 60% of the company.

Richmond said the bid was unexpected but acknowledged it had had a long relationship with another Bernard Matthews subsidiary, Advanced Foods Ltd.

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

CDC Independent Valuation - 30 June 2025
TruScreen Group Limited SPP Update
THL provides updated guidance
CEN - Greymouth gas deal
July 4th Morning Report
July 3rd Morning Report
ikeGPS Chief Financial Officer Transition
TWL - TradeWindow announces strategic partnership with FTA
BLT - Patent issue settled and new 5 year agreement with BSP
July 2nd Morning Report