Boparan confirms plans to delist Northern Foods

HARRY Ramsden owner and West Bromwich entrepreneur Ranjit Boparan today confirmed plans to delist Northern Foods from the London Stock Exchange after his offer for the firm became unconditional.

The Irish competition authorities have given the green light to the Boparan Holdings takeover, removing the final hurdle to the completition of the takeover of the Leeds-based firm.

Mr Boparan already has the backing of around 80% of Northern Foods shareholders for his offer and if that reaches 90% he intends to compulsorily buy the remaining shares.

Boparan Holdings said today it had given notice of its intention to delist the company on the London Stock Exchange which would take effect around May 11.

The West Midlands based poultry businessman triumphed in a battle with Irish food firm Greencore to take control of Northern Foods.

His winning bid values the company at around £342m or 73p per share.