BUZZ-UK's Bakkavor rises on rival Greencore's takeover offer
UK-based Bakkavor Group (BAKK.L) rises as much as 6.7% to 190p British convenience food manufacturer Greencore (GNC.L) agrees to buy rival BAKK in a 1.2 billion-pound ($1.55 billion) cash and stock dealOffer price of 200p is a 12.4% premium to BAKK’s last closeUnder the terms of the deal, BAKK shareholders will get 85 pence in cash and 0.604 GNC shares for each Bakkavor share they holdGNC falls as much as 2.8% to 174pAs of last close, BAKK up ~22%, GNC down ~8% this year($1 = 0.7747 pounds)
