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McCormick may consider higher Premier offer after due diligence

Reuters - UK Focus

LONDON, March 24 (Reuters) - U.S (Other OTC: UBGXF - news) . spice company McCormick could raise its possible takeover offer for Britain's Premier Foods (LSE: PFD.L - news) following due diligence, the company said on Thursday.

The statement came after Premier (NasdaqGS: PINC - news) reiterated that McCormick's 60 pence per share approach, worth more than $700 million, was too low.

McCormick said it was willing to proceed with "limited confirmatory due diligence" and that it was "disappointed" that Premier's board was "conducting itself in a way that denies Premier Foods' shareholders the opportunity to consider" its offer.

(Reporting by Martinne Geller in London; Editing by Ben Hirschler)