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Saturday, December 17, 2005

Baker, mill reject Weston takeover bid.

Baker, mill reject Weston takeover bid. 15/12/2005. ABC News Online

Cripps Nubake and Tasmanian Flour Mills have rejected a takeover bid from baking giant George Weston Foods.

Yesterday the Australian Competition and Consumer Commission (ACCC) approved the proposal from the company, which owns the Tip Top Brand.

But the directors of the holding company for the two Tasmanian businesses have decided they are happy with the current performance of the organisations.

Paul Gadomsky, from Cripps Nubake, says the company wants to maintain and grow its business relationships in Tasmania.

"If an interested party comes along in the future we'll look at it but we're not proactively seeking a buyer at this stage," he said.

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