The decision to terminate the agreement followed confirmation from the Australian Competition and Consumer Commission that the A.C.C.C. intended to oppose the transaction.
“As announced by Goodman Fielder in March, the company had anticipated this decision and has proceeded to develop and substantially restructure the business to maximize profitability,” Goodman Fielder said. “Considerable progress has already been made on refocusing and repositioning the business and further details will be provided at the company’s annual general meeting on Nov. 25.”