Supermarket sandwich maker Greencore this morning announced that it does not intend to make a revised offer for Leeds-based Northern Foods, which makes Fox's biscuits and Goodfella's pizza.

Supermarket sandwich maker Greencore told shareholders today it was still mulling over whether to launch a counter offer for former merger partner Northern Foods.

Shares in Northern Foods today soared 15% after its management backed a £342m (€402m) buy-out offer from the owner of the Harry Ramsden’s fish restaurants.

The owner of the Harry Ramsden’s restaurants has made a £342m (€402m) bid for Goodfella’s Pizza-maker Northern Foods.

GREENCORE’s planned merger with Northern Foods was under threat last night, following a last minute play for the British group from a rival bidder.