Shares in Goodman Fielder Ltd (GFF.AX) jumped as much as 19 percent on Monday after the Australian food company rejected a A$1.3 billion ($1.2 billion) takeover bid from Singapore's Wilmar International (WLIL.SI) and China's First Pacific (0142.HK).
Goodman shares hit a two-and-a-half month high of A$0.655 and last traded up 18 percent at A$0.65, matching the conditional bid that Goodman labeled "opportunistic".
