Following the recent movement in Geest's share price and press comment, the board of Geest has confirmed it has received a preliminary proposal from the Bakkavor Group hf.
"Discussions are continuing between Geest and Bakkavor to establish whether or not Bakkavor can put forward a revised proposal which would form an acceptable basis for entering into due diligence, which may or may not lead to Bakkavor making a full offer for the entire issued share capital of Geest in due course," Geest said in a statement.
A further announcement is expected.
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