Finsbury is approached for takeover

By Elaine Watson

- Last updated on GMT

Related tags: Stock, Stock market, Finsbury food group

Own-label bakery giant Finsbury Food Group has confirmed rumours that it has received an approach regarding a potential offer for the company.The...

Own-label bakery giant Finsbury Food Group has confirmed rumours that it has received an approach regarding a potential offer for the company.

The approach was “exploratory in nature and the directors believe that there is considerable doubt that an offer will be forthcoming from this party”, said the firm in a stock exchange announcement this morning.
A further announcement will be made in due course, as appropriate, it added.

In the six months to December 31, 2008, sales at Finsbury were up 11% to £92.1M, with adjusted pre-tax profits down by 45% to £1.8M.
Its share price was up 23% to 26.5p in early trading.