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The latest update is out from Greencore ( (GB:GNC) ).
Greencore Group PLC has announced a recommended acquisition of Bakkavor Group PLC, involving a cash and share offer for the entire issued share capital of Bakkavor. The transaction is to be implemented through a court-approved scheme of arrangement. An irrevocable undertaking from Polaris Capital Management to vote in favor of the acquisition has been partially reduced due to the sale of some shares. This acquisition could potentially strengthen Greencore’s market position in the convenience food sector.
The most recent analyst rating on (GB:GNC) stock is a Hold with a £185.00 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 strategic acquisition drive the positive outlook. The technical analysis supports a bullish sentiment, while valuation is reasonable. The lack of earnings call data did not negatively impact the overall score.
To see Spark’s full report on GB:GNC stock, click here.
More about Greencore
Greencore Group PLC operates in the food industry, focusing on convenience foods. The company is known for its production of ready-to-eat meals, sandwiches, and other convenience food products, catering primarily to the UK market.
Average Trading Volume: 1,998,896
Technical Sentiment Signal: Buy
Current Market Cap: £970.2M
See more data about GNC stock on TipRanks’ Stock Analysis page.