Lack of financial data hurting Inter Link Foods sale
Potential buyer claims to be thwarted in bid for more information
A potential buyer for struggling baking group
Inter Link Foods – which has
already lost its FD-in-waiting – has complained of not being able to get more
financial information about the company.
The news sent the company’ shares downward.
Irish baker
McCambridge is considering buying the company, which makes Soreen malt
loaves.
But it said its approaches for more financial information had been met with
‘an unreasonable stance by the board of Inter Link regarding access to Inter
Link’s bankers.
Inter Link’s has more than £60m of debt making it more vulnerable to a
takeover.
Inter Link said it had asked McCambridge to sign a confidentiality agreement
before giving them further access.
Further reading:
Deloitte called in as baking group consider private equity
route