Premier Foods has received another takeover bid from US herbs and spices makers McCormick.
The British food manufacturer, which owns brands like Bisto, Mr Kipling, Ambrosia, Homepride and many more, has already rejected a bid of 52p per share. But McCormick has now raised its bid to 62p per share.
Premier Foods has said that previous bids fail "to recognise the value of Premier’s performance to date and prospects for the future, including the strategic plans we have to accelerate growth".
Last week, Japanese noodle maker, Nissin, bought a 17.27% stake in Premier Foods and is expected to take a seat on the board, with the British firm describing Nissin as a "long-term shareholder".