On Monday, Northern Foods PLC (NFDS. LN) stated, following the consultation with the United Kingdom Takeover Panel and a request from Greencore Group PLC (CGC. DB), it intends to suspend today's shareholder meetings until further notice.

Meetings were called in connection with the proposal of merger between Northern Foods and Greencore to be in effect under the European cross-border mergers regime.

Northern Foods Board keeps on intending to recommend shareholders accept BH Acquisitions' seventy three pence per share offer agreed on Jan. 21.

Greencore pointed out on Jan. 24, that it was looking at its options, but there has been no modified offer from Greencore and there is no certainty that any such offer will be received.

Shares of Northern Foods closed on Friday at seventy five pence valuing the company at GBP349.15 million.

Today's crunch Northern Foods shareholder meeting has been suspended at the last minute in this morning. Greencore based in Ireland has been successful in putting on hold the meeting as it seeks to come back with a counter offer to merge with the ready meals manufacturer based in Leeds.

Ranjit Boparan based in West Midlands has put forward a rival three hundred and forty two million pounds cash offer for the maker of Fox’s Biscuits and Goodfella’s pizzas which the board of Northern has unanimously advised for approval.

As per statement that came out in the morning today, following consultation with the Takeover Panel and a request from Greencore, Northern Foods announced that it intends to propose the suspension until further notice of today's shareholder meetings. Making clear about the intention to adjourn these meetings, shareholders are suggested not to attend them in person.