Uniq - Recommended cash offer by Greencore Foods

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Slaughter and May is advising Uniq PLC on a recommended cash offer by Greencore Foods Limited, a wholly owned subsidiary of Greencore PLC, which values Uniq at approximately £113 million.

The offer, which was announced on 12 July 2011, will be part funded by a rights issue and due to its size is subject to the approval of Greencore shareholders.

Angel Street, which owns 90.2 per cent. of the shares in Uniq, has irrevocably undertaken to accept the Greencore offer.

The Greencore Group is an international manufacturer of convenience foods comprising a core "Convenience Foods" division and an "Ingredients and Property" division.

The Uniq Group is a private label chilled foods producer in the UK whose shares are quoted on AIM. Uniq's business comprises two divisions: "Food to Go" and "Desserts".

Martin Whelton (partner), Nicholas Pacheco (associate), Holly Sage (associate); Competition: Isabel Taylor (partner), Joaquín Hervada (associate); Pensions and Employment: Sandeep Maudgil (partner), Eleanor Hart (associate)