Stocks to watch on the Australian stock exchange at noon on Friday:

GFF – GOODMAN FIELDER – down 1.5 cents, or 2.2 per cent, to 65.75 cents

One of Australia’s largest food companies is the target of a sweetened $1.37 billion dollar takeover offer from two Asian firms.

IFL – IOOF – up 18 cents, or 2.2 per cent, to $8.31

SFW – SFG AUSTRALIA – up 13.5 cents, or 18.49 per cent, to 86.5 cents

Financial adviser IOOF is taking control of a smaller rival in a $624 million deal that will create Australia’s third largest wealth manager.

LEI – LEIGHTON – down 28 cents, or 1.3 per cent, to $20.62

Construction giant Leighton is working towards a settlement of a class action brought by shareholders hit by the company’s profit downgrade in 2011.

STO – SANTOS – up four cents, or 0.28 per cent to $14.33

Santos says the first cargo of liquefied natural gas from the $19 billion Papua Guinea LNG project will soon leave for Japan.