The board of Greencore would be “acutely conscious” of “appropriately balancing risk and return” in any decision it makes relating to a potential counter-bid for Northern Foods, chief executive Patrick Coveney said today.

Speaking to reporters after Greencore's extraordinary general meeting today, Mr Coveney said the company is considering its options, but that there is "no explicit timetable for us to decide what to do".

The convenience food's merger bid stalled in January after Northern Foods withdrew support for its all-share offer in favour of a last-minute cash bid from from businessman Ranjit Boparan.

At the request of Greencore, Northern Foods adjourned today's shareholder meeting which had been convened in relation to the proposed merger between the two companies.

While Greencore has indicated to Northern Foods that it is evaluating its options, “there has been no revised offer from Greencore and there is no certainty that any such offer will be received,” it said today.