11 August 1997
Barings prepares to declare war on Dalgety
ING Barings is said to be planning a £900 million break-up bid for Dalgety.
Dalgety has reportedly been working closely with Lazards on how best to fight any break-up bid. Dalgety has so far denied any knowledge of the Barings plan.
Garry Westons Associated British Foods (ABF) is touted as a possible buyer for Dalgetys animal feeds and fertiliser interests. Barings is thought to have approached large food groups including Nestle, ABF and Ralston Purina for various parts of the group.
Dalgety will claim in its defence that it has been the victim of exceptional circumstances. These include the bovine spongiform encephalopathy scare and a European ban on the export of petfood.