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National Foods targets SPC Ardmona
12 Oct 2004
Dairy processor National Foods has begun discussion with cannery SPC Ardmona about a merger. SPC Ardmona chairman David Meiklejohn said the company was in "preliminary discussions" with National Foods following a formal approach last week. Meiklejohn said he told his counterpart at National Foods, Barry Capp, that the board was unlikely to agree to a hostile bid. Around 360 growers own 15 per cent of SPC Ardmona, while NatFoods has long-term contracts with 500 farmers.
The Australian, 12/10/04
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