FoodFen’s Geest has seen its share price drop by 7% since the beginning of the week as City analysts dampen speculation that the group is subject to a take-over bid.

ABN Amro told its clients that a bid, which speculators have said could come from Northern Foods or AB Foods, is unlikely.

This halted a strong run for Geest shares, which had been trading healthily and at a premium to the rest of the sector since mid-March.