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22 December 2010
Last updated at 08:20 ET
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Northern Foods' shares have risen 7.4% after it confirmed that Harry Ramsden owner Ranjit Boparan had asked to see its books, raising speculation that he is planning a £300m takeover bid.
Northern, the UK's largest maker of Christmas puddings, said Mr Boparan had not indicated his intentions or the price he may offer.
If any bid from Mr Boparan is forthcoming, it may end Northern's plans to merge with Irish firm Greencore.
That deal was announced last month.
Since that time, Mr Boparan has increased his shareholding from less than 3% to 6.6%.
Northern and Greencore plan to create a new firm called Essenta, with both sets of shareholders due to vote on the proposed deal on 31 January.
Mr Boparan also owns the FishWorks restaurant chain, as well as chicken processor Two Sisters Food Group, which is one of Tesco's largest poultry suppliers.
Greencore is the UK's biggest sandwich maker.
Northern Foods owns Goodfella's Pizza and Fox's biscuits.
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Northern, the UK's largest maker of Christmas puddings, said Mr Boparan had not indicated his intentions or the price he may offer.
If any bid from Mr Boparan is forthcoming, it may end Northern's plans to merge with Irish firm Greencore.
That deal was announced last month.
Since that time, Mr Boparan has increased his shareholding from less than 3% to 6.6%.
Northern and Greencore plan to create a new firm called Essenta, with both sets of shareholders due to vote on the proposed deal on 31 January.
Mr Boparan also owns the FishWorks restaurant chain, as well as chicken processor Two Sisters Food Group, which is one of Tesco's largest poultry suppliers.
Greencore is the UK's biggest sandwich maker.
Northern Foods owns Goodfella's Pizza and Fox's biscuits.
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