Unilever (LSE: ULVR) is one of the London market's most coveted stocks but does Premier Foods (LSE: PFD) have what it takes to replicate the company's success and once again become appealing to investors?
Consumer goods company Premier Foods (LSE: PFD) has released a disappointing second quarter trading update today. In response, its shares have fallen by up to 13% and could move lower in the short run.
The fallout of McCormick's failed takeover of Premier Foods (LSE: PFD) sent shares of the latter shuttling lower towards the end of last week, forcing the catering play to swallow a 29% decline between last Monday and Friday.
Premier Foods told Japan's Nissin Foods it had received an approach from American suitor McCormick before any of its existing shareholders and before the noodle maker bought a 17.3pc stake in the British food manufacturer, it has emerged.
Premier Foods and Nissin Foods Holdings Company have entered into a relationship agreement on terms and conditions, following the announcement by US spices firm McCormick that it was withdrawing its takeover bid for Premier last month.