THE latest move by Greencore Group to mount a counter-bid for Northern Foods has been criticised by two leading Irish stockbrokers as bad for the company’s shareholders.

BOPARAN Holdings has announced its €402 million offer document for the purchase of Northern Foods was posted to the group’s shareholders yesterday.

GREENCORE has been advised not to try and trump Ranjit Boparan’s £342 million (€401.7m) bid for Northern Foods and to walk away from the sale process by NCB stockbrokers.