Deals
McCormick's Sweet Deal Crumbles
Premier Foods wanted to have its cake. Now it has to eat it.
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McCormick's decision to leave Premier Foods on the shelf means its jilted target has much to prove.
Premier thinks it's worth more than the 537 million pounds ($764 million) its U.S. suitor was prepared to offer. But after looking at Premier's books, McCormick seems to have become less sure that the maker of Mr. Kipling's cakes is worth even that.