Goodman Fielder also announced yesterday it could owe $392 million to institutional investors in the US if the takeover proves successful.
The shock financial revelations come a day after Goodman Fielder's chairman, Keith Barton wrote to shareholders advising them to "to delay making any decision in relation to this offer until your Board has had time to evaluate it thoroughly."
According to The Herald Sun, a Burns Philp spokesperson said it was too early to say what the tax liability or loan repayments would mean for the takeover bid.
The news sparked a share price drop for both companies. Goodman had 6 cents knocked from its $1.72, while Burns Philp was down 1 cent to 51 cents.
