The West

Goodman scotches takeover talk
Goodman scotches takeover talk

Goodman Fielder has played down reports that the world's biggest palm oil processor has its eye on the breads and spreads maker.

Wilmar raised its stake in Goodman from 5 per cent to 10 per cent in February, sparking speculation that Wilmar might make a bid for the owner of brands including White Wings and Helga's.

But Wilmar's chief executive Kuok Khoon on Wednesday said the Singapore-based company had no plans for a bid.

Goodman Fielder today said it had noted speculation about Wilmar's stake but said no offer had been made.

"Goodman Fielder confirms that it has not received a proposal from Wilmar or any third party regarding the ownership of the company," it said.

Goodman Fielder, which is undergoing a major restructure, on Tuesday posted a net loss of $146.9 million for 2011/12.

It is in talks with several parties about the sale of its New Zealand milling business.

Meanwhile, Canadian commodities firm Cargill has withdrawn from talks about buying Goodman's edible fats and oils business, Integro.

The West Australian

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