The proposed $1.3 billion takeover of Goodman Fielder Limited
(ASX:GFF) has scored the green light from Australia’s Foreign Investment Review Board.
Singapore-based Wilmar International and Hong Kong’s First Pacific launched a bid for the food manufacturer in April.
Today’s Foreign Investment Review Board approval comes after the Australian Competition and Consumer Commission gave its go-ahead last month.
In July Goodman Fielder’s board unanimously backed the takeover offer through a scheme of arrangement which will go a shareholder vote in the first quarter of 2015.
The breads and spreads manufacturer says its suitors continue to progress the required regulatory approvals.
Goodman Fielder reported a net loss of $398 million in the 2014 financial year.
