Bakery group McCambridge is considering withdrawing its bid approach for struggling cake manufacturer Inter Link Foods.
McCambridge had made repeated attempts over the past three weeks to engage in discussions with Inter Link and to commence commercial and financial due diligence, the group said in a statement released this morning.
“McCambridge is considering whether it should withdraw its initial approach until such time as the board of Inter Link is prepared to confirm that it will allow McCambridge direct access to its lenders as a vital part of its due diligence,” it added.
Inter Link said it remained in discussions with McCambridge but progress had been restricted because no agreement had been reached on the terms of a confidentiality agreement.
McCambridge had made repeated attempts over the past three weeks to engage in discussions with Inter Link and to commence commercial and financial due diligence, the group said in a statement released this morning.
“McCambridge is considering whether it should withdraw its initial approach until such time as the board of Inter Link is prepared to confirm that it will allow McCambridge direct access to its lenders as a vital part of its due diligence,” it added.
Inter Link said it remained in discussions with McCambridge but progress had been restricted because no agreement had been reached on the terms of a confidentiality agreement.
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