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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/01/offer-expected-for-northern-foods.jpg"><img class="alignnone size-full" title="The owner of chip shop firm Harry Ramsden's is to make a bid for Northern Foods, it has been reported" src="http://londonglossy.com/wp-content/uploads/2011/01/min-offer-expected-for-northern-foods.jpg" alt="The owner of chip shop firm Harry Ramsden's is to make a bid for Northern Foods, it has been reported"/></a></p>
<p>The owner of Harry Ramsden&#8217;s is expected to table an offer for Northern Foods in a bid to derail the group&#8217;s planned merger with Irish chilled foods firm Greencore, it has been reported.</p>
<p>Ranjit Boparan, who holds a 6.6% stake in Goodfella&#8217;s Pizza and Fox&#8217;s Biscuits company Northern Foods through his firm Boparan Holdings, is said to have serious misgivings about the deal, according to the Sunday Telegraph newspaper.</p>
<p>He is understood to be working to submit a bid for the company ahead of the Takeover Panel&#8217;s Friday deadline.</p>
<p>Northern Foods announced an all-share nil-premium merger with Dublin-listed Greencore in November, to form a new group called Essenta Foods which will have annual sales of £1.7 billion.</p>
<p>It is not known how much Mr Boparan would offer for Northern Foods, whose current share price of 59.75p values the group at £280 million, but brokers think he would need to table a bid of at least 75p per share, valuing the firm at £380 million.</p>
<p>It is understood the bid would be in cash, funded from Boparan Holdings&#8217; main food business Two Sisters Food Group and from bank facilities.</p>
<p>Mr Boparan is understood to be concerned about the lack of food industry experience on the proposed board of Essenta Foods while he is also thought to have doubts that the £40 million of synergies that Northern claims can be made from the deal will materialise in full.</p>
<p>It was not possible to contact Mr Boparan but the Sunday Telegraph quoted him as saying he would &#8220;continue to evaluate the information that has been provided by Northern Foods to assess whether to make a proposal&#8221;.</p>
<p>Northern is co-operating with Mr Boparan and has opened its books to him. Shareholders are due to vote on the merger with Greencore at a meeting on January 31.</p>
<p>Northern, one of the biggest suppliers of own-label products in the UK, makes pies, sandwiches, salads, puddings and ready meals from sites including the Gunstones Bakery near Sheffield and its Fox&#8217;s biscuits factory near Preston.</p>
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