AUSTRALIA – The Goodman Fielder/Burns Philp takeover drama continues this week with Burns Philp waiving two conditions in its bidders statement.

The global yeast and natural food ingredients manufacturer has agreed to waive conditions which would give it the right to halt the takeover if its own operations were adversely affected by any unpredictable event.

In addition, the company is providing further information to Goodman Fielder shareholders to assess the likelihood of its facilities actually being available to fund the bid. The finance condition has also been amended by the inclusion of a withdrawal right for shareholders.

However, to add to the intrigue it is reported that the Australian Securities and Investments Commission and the Australian Stock Exchange is seeking documents from Goodman Fielder relating to the timing of its announcement of a previously undisclosed $102 million (