McCormick drops bid for Premier Foods

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McCormick & Co. Inc. is walking away from its attempt to buy Premier Foods plc. Sparks-based McCormick (NYSE: MKC), a spice and seasoning maker that’s one of the largest public companies in Greater Baltimore, has dropped a $770 million offer to buy the British food maker of Mr. Kipling cakes and Oxo stock, it said Wednesday morning. Premier’s asking price was too high. The decision follows Premier exposing in March earlier takeover offers by McCormick. The companies agreed to engage and review…