(Reuters) – British convenience food manufacturer Greencore has increased its bid for rival Bakkavor Group, Bloomberg News reported on Tuesday, citing sources.
Bakkavor, which operates in Britain, China and the United States, has been considering the enhanced proposal, the report added.
Greencore and Bakkavor declined to comment to Reuters’ requests.
Bakkavor rejected two takeover bids from Greencore this month, with the latest cash-and-stock offer valued at 189 pence per share, including a planned dividend.
The bid would have valued Bakkavor at 1.14 billion pounds ($1.48 billion).
($1 = 0.7720 pounds)
(Reporting by DhanushVignesh Babu in Bengaluru; Editing by Alan Barona)
