After improving his bid for Northern Food, main chicken supplier of Tesco, Ranjit Boparan, is now going to takeover the company. Northern Food is the company that is into the making of Goodfellas pizza and the total money that it is going to receive is £342 million.

Interestingly, the bid was accepted just 5 minutes before the deadline set by the City's Takeover Panel expired.

In a statement, Northern Food said that the board has given its unanimous support for the deal, which is now at 79 p per share. The chairman of the company, Anthony Hobson added by saying that Boparan's current bid is quite attractive and made the shareholders feel that they are getting some real cash deal.

Meanwhile, the latest development also means that merger between Northern and the Irish group Greencore is going to break. This was started in November. Had the deal between the pizza-maker and the sandwich maker taken place, it would have created an entity with sales of £1.7 billion.

And now there is news that Boparan, who owns the famous Harry Ramsden's fish and chips chain, is planning to merge Northern with his two sister concerns.