Goodman Fielder takeover approved

bread, Goodman FielderChinese authorities have approved the $1.34 billion takeover of Australia’s largest food maker, Goodman Fielder.

Goodman Fielder on Monday said China’s Anti-Monopoly Bureau had given the go ahead to the takeover by Singapore agribusiness, Wilmar, and Hong Kong investment firm, First Pacific.

Australia’s Foreign Investment Review Board has already said it has no objection to the takeover, but the deal still requires approval from Goodman Fielder shareholders and New Zealand authorities.

Shareholders are due to vote on the deal at a meeting on February 26.

AAP

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