Who will blink first in Goodman Fielder's staring contest?

Goodman Fielder’s attempt to stare down its suitors is reminiscent of a very similar reaction the board had to a takeover offer in 2002. It's a move that may not pan out well for the board or its shareholders.

There is a sense of déjà vu in Goodman Fielder’s near-instant and very emphatic rejection of the $1.27 billion takeover approach from Singapore’s Wilmar International and Hong Kong’s First Pacific Company.

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