Greencore returns cash to shareholders

Greencore returns cash to shareholders

Greencore (GNC) chief financial officer Eoin Tonge said it was a "tough decision" to sell the American business in October for $1.08bn (£840m). But he is of the opinion that it was better to bank the value already created for shareholders, rather than work to build more over time. Now, Greencore is planning to return £509m-worth of disposal funds by giving investors the option to participate in a tender offer. Any remaining proceeds will be distributed via a special dividend.

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