Bright Food to Acquire Britain's United Biscuits

According to speculations, Shanghai-based Bright Food is due to strike a deal with Britain's United Biscuits, which will by far be the largest deal ever made by any Chinese Company.

The deal, which is likely to be made for as much as $3.2 billion, is going to be the biggest in the food and beverage sector. There too have been reports suggesting a rise in the shares for Bright Food, which entails Bright Dairy & Food Co. by roughly 4.3% to 10 Yuan per share.

The source also puts froth that while he is not really aware of the negotiations between the two Companies, Bright Food it is being said is planning to buy McVitie's biscuits and Twiglets.

Chen Chunshan, a Company Spokesman has however said that Bright Food is currently aiming at the procurement of United Biscuits. This versatile Company is said to have a taxi business in Shanghai and a business of production of ham and milk too.

Some time back, the Company is said to have lost a bidding war for Australian sugar refiner CSR. Wedlake Bell Partner Tim Bird said, "It's still the case that half of public takeover offers in the UK are coming from overseas - there's been no lessening of interest”.