Icelandic food group Marel is working on a counter-bid for the entire Stork group, well-informed sources have told the Financieele Dagblad. The paper says Marel, which has increased its stake in Stork to 17%, is working in a consortium with private equity to take over the Dutch engineering group.

However, sources told the paper that Marel would only bring out a formal bid for Stork if it refuses to sell its food systems division to the Icelandic company. Marel made an offer for this unit of €325 last year.
Last week, British private equity group Candover made a €47 a share bid for Stork, conditional on 80% of the shares being tendered.