Deals
Goodman Fielder Heeding Sale Advice Is Best Bet: Real M&A
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Goodman Fielder Ltd.’s best option may be to follow the advice of its biggest shareholder and negotiate a sale.
The Australian baker this week rejected as too low a 65-cents-a-share bid from Wilmar International Ltd. and First Pacific Co. that valued the company’s equity at A$1.27 billion ($1.18 billion). With analysts projecting a loss this year at Goodman Fielder and more stock declines, shareholder Perpetual Ltd. says the maker of Helga’s bread should enter into talks with its suitors.