KERRY Group has lost out in a €1.7 billion battle to buy Birds Eye frozen foods from Unilever.

KERRY GROUP is reported to have linked up with private equity firms JP Morgan Partners and Blackstone in an attempt to buy Unilever’s frozen foods arm, Birds Eye, which could fetch €1.75 billion.

The improving fortunes of the UK biotech industry were highlighted today when Renovo launched its second attempt to list on the stock market.

A DRAWN-OUT battle for control of Warner Chilcott looked less likely yesterday as one of the three bidders for the Northern drug firm dropped out of the race to join forces with the frontrunner.