Bready, steady, go as Hovis £75m takeover on the table

FTSE 100 giant Associated British Foods has been given the green light for a £75m takeover of Hovis, creating the UK’s biggest bread brand.

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Associated British Foods (ABF) has been cleared to snap up Hovis after the competition watchdog accepted that the foods giant would likely exit the bakery sector in Great Britain and Northern Ireland if the deal did not go ahead.