MARKET WATCH: Bakkavor soars after it dismisses two takeover bids from Greencore

By CITY & FINANCE REPORTER

Updated: 21:51 GMT, 14 March 2025

Shares in food manufacturer Bakkavor soared after it turned down two takeover bids from rival Greencore.

The FTSE 250 firm, which makes ready meals, pizzas and salads for supermarkets including Tesco, Marks & Spencer and Sainsbury’s, said the latest bid of £1.14billion ‘significantly undervalued the company and its future prospects’. 

Shares soared 16.9 per cent, or 25.5p, to 176.5p while Greencore, which makes sandwiches and salads for supermarkets, lost 1.9 per cent, or 3.6p, to 186.8p.

There was some much-needed respite for investors on the wider market as the FTSE 100 closed up 1.1 per cent, or 89.77 points, to 8632.33 and the FTSE 250 rose 1.6 per cent, or 307.02 points, to 19995.59. 

Defence stocks were on the march once again with aerospace giant Melrose rising 6.4 per cent, or 31.8p, to 528p, BAE Systems gaining 4.2 per cent, or 66.5p, to 1657p and Rolls-Royce advancing 3.2 per cent, or 25p, to 796.4p.

Airlines were back in fashion as British Airways owner IAG added 2.6 per cent, or 7.1p, to 283.2p and Easyjet put on 2.7 per cent, or 12.8p, to 486.6p.

DIY INVESTING PLATFORMS

AJ Bell

AJ Bell

Easy investing and ready-made portfolios

Hargreaves Lansdown

Hargreaves Lansdown

Free fund dealing and investment ideas

interactive investor

interactive investor

Flat-fee investing from £4.99 per month

Saxo

Saxo

Get £200 back in trading fees

Trading 212

Trading 212

Free dealing and no account fee

Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.

Compare the best investing account for you

:
MARKET WATCH: Bakkavor soars after it dismisses two takeover bids from Greencore

***
Read more at DailyMail.co.uk