Burns Philp has today notified the ASX of the initial batch of...

Burns Philp has today notified the ASX of the initial batch of acceptances for their takeover offer of Goodman Fielder.

In addition to BPC's initial purchase of 175,980,000 GMF shares they have acceptances for another 13,569,326 GMF shares.

This brings them to 189,549,326 GMF shares or a total of 15.94% of Goodman Fielder.

It will be interesting to see if BPC can pull this takeover off, and then even more interesting to see if they can extract value out of GMF.

Surandy