Greencore Announces Acquisition of Bakkavor Group

Greencore ( (GB:GNC) ) has issued an announcement.

Greencore Group PLC, a leading convenience food manufacturer, has announced a recommended acquisition of Bakkavor Group PLC. The transaction will be implemented through a court-approved scheme of arrangement. Greencore has received an irrevocable undertaking from Polaris Capital Management LLC to vote in favor of the acquisition, although the number of shares subject to this commitment has decreased slightly due to recent sales by Polaris. This acquisition is expected to strengthen Greencore’s market position and expand its operational capabilities.

The most recent analyst rating on (GB:GNC) stock is a Hold with a £160.00 price target. To see the full list of analyst forecasts on Greencore stock, see the GB:GNC Stock Forecast page.

Spark’s Take on GB:GNC Stock

According to Spark, TipRanks’ AI Analyst, GB:GNC is a Outperform.

Greencore’s strong financial performance and positive corporate events are the key drivers of its stock score. The bullish technical indicators further enhance the outlook, although the valuation suggests limited upside potential.

To see Spark’s full report on GB:GNC stock, click here.

More about Greencore

Average Trading Volume: 1,772,231

Technical Sentiment Signal: Buy

Current Market Cap: £985.3M

See more data about GNC stock on TipRanks’ Stock Analysis page.