Foodland, Metcash talks to seek value

FOODLAND has confirmed that it is in constructive discussions with Metcash in relation to Metcash’s current offer for Foodland as well as considering other structural alternatives. In a statement the Foodland board said it was continuing discussions with other potential bidders in order to maximise value for shareholders. The board has also repeated its advice to shareholders to “take no action” at this stage in relation to the revised Metcash offer. Metcash recently increased its bid for Foodland, valuing the WA-based company at more than $1 billion.


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