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Fonterra firm on National Foods offer
4 Nov 2004
Fonterra chief executive Andrew Ferrier said the company would not increase its from $5.45 a share bid for National Foods. Ferrier said Fonterra had put a competitive offer on the table and was sure shareholders would agree to it as it stood. "I am not going to budge. We have done our homework, we have valued the business, we have valued the synergies, and we have put the full value on the table." National Foods' board last week unanimously rejected the offer. Fonterra already owns 19 per cent of National Foods.
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