Inter Link confirms management approach

Cake maker Inter Link Foods today said members of its management team were working with a private equity firm on plans for a potential takeover.

Shares closed at 407.5p on Friday valuing the firm at £47m (€69m) although reports at the weekend indicated an offer could be in the region of £66m (€98m).

A statement to the stock exchange today confirmed that any offer was likely to be “substantially” higher than £47m.

It added: “Talks are at a very early stage and there can be no certainty that a formal offer will be made.”