‘Bisto’ firm Premier Foods shares slump as talks end

McCormick said yesterday that the price the company’s board is asking won’t benefit its own shareholders after a review of Premier’s finances.
The failed talks will put pressure on Premier chief executive Gavin Darby to deliver growth for shareholders. After spurning McCormick’s initial approaches, Premier signed a co-operation agreement with Japan’s Nissin Foods Holdings that included Nissin taking a stake in the UK company. Shareholders objected, urging Premier to begin negotiations with the US suitor.