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McCormick walks away from Premier Foods takeover

Reuters - UK Focus

LONDON, April 13 (Reuters) - U.S (Other OTC: UBGXF - news) . spice maker McCormick Foods walked away from its takeover proposal for British food company Premier Foods (LSE: PFD.L - news) on Wednesday.

McCormick said in a statement that it had decided it would not be able to propose a price that would be recommended by Premier (NasdaqGS: PINC - news) 's board, while also delivering appropriate returns for its own shareholders.

Premier issued a statement noting McCormick's decision. (Reporting by Martinne Geller in London; Editing by Alexander Smith)