FDBusiness.com

Negotiations about a possible offer by US private equity firm Clayton Dubilier & Rice to buy Greencore, one of the leading convenience food processors in the UK, have ended. Greencore announced the receipt of an approach on October 25th 2011.

The Greencore board emphasised that the discussions were at a preliminary stage and there was no certainty that any offer would be made. Such discussions were entered into with a view to establishing whether a proposal acceptable to the board, which could then be put to shareholders, would be forthcoming. Given the board’s unanimous view on the strong underlying value of Greencore and the current dislocation in global equity and debt capital markets, both parties have now agreed to end discussions.