ICELAND/UK: Baugur still considering bid for Somerfield
Icelandic retail group Baugur is still considering a bid for grocery retailer Somerfield, despite the Somerfield board's rejection of its approaches last week.
"Baugur announces that it is currently reviewing its options in respect to Somerfield, one of which includes a possible offer," it said in a statement today (Monday). "If a decision to proceed is made, it is currently Baugur's intention to approach the board of Somerfield to seek a recommendation."
On 9 February 2005, Somerfield announced that it had received an approach from Baugur on an offer worth around £1bn (US$1.9bn), but last week Somerfield's board rejected that approach. "It would not be in the interests of shareholders to give further consideration to this proposal," Somerfield's Board said in a statement.
Baugur said it would make a further announcement when appropriate.
Icelandic investment group Baugur has confirmed its withdrawal from a consortium planning to bid for UK supermarket chain Somerfield....
Icelandic retail investor Baugur is set to walk away from the consortium planning a bid for supermarket chain Somerfield, according to the Guardian newspaper....
Supermarket chain Somerfield, currently the subject of interest from potential bidders, has reported a rise in pre-tax profit, before exceptional items for the year to 30 April to £53.1m from £32.5m a...
Supermarket chain Somerfield has announced that United Co-operatives Limited has decided not to proceed with an offer for the company....
Flavoured milk company Bravo! Foods International has announced that its wholly-owned United Kingdom subsidiary, Bravo! Brands (UK) Ltd will ship the first round of its Slammers fortified milk drink p...
The Competition Commission has published a list of uses as part of its inquiry into the recent acquisition of 115 stores and other assets from WM Morrison Supermarkets by supermarket chain Somerfield....
UK supermarket group Somerfield has said group like-for-like sales slid 0.4% in the 53 weeks to 30 April 2005....
United Co-operatives Limited has announced that it has made an approach to the board of supermarket chain Somerfield with a view to exploring the possibility of making an offer for Somerfield....
- General Mills sales woes continue - analysis
- Why personalisation will take-off in US food
- Comment: Meal kits in US - don't believe the hype
- US food next wave on display at Winter Fancy Food
- Column: Kraft Heinz, Unilever and sustainability
- Unilever 'lining up spreads sale'
- UK own-label firm Park Cakes sold in MBO
- Immigration crackdown "risk" for US dairy industry
- BRF plant suspended amid bribery allegations
- Fonterra cuts earnings forecast