UK: L&R withdraws from Somerfield takeover battle
London and Regional Properties (L&R) has announced that it has decided not to proceed with an offer for UK supermarket group Somerfield.
L&R said it reserves the right to make an offer with the agreement or recommendation of the Somerfield board, or if the consortium consisting of Apax Partners, Barclays Capital and the Tchenguiz Family Trust or a third party announces an offer for Somerfield.
L&R's withdrawal leaves the Apax, Barclays Capital and Tchenguiz consortium as the only party left in the process. The Takeover Panel has set a deadline of 14 October for takeover offers.
Icelandic retail group Baugur kickstarted the takeover battle in March with a £1.04bn (US$1.84bn) approach but has since withdrawn from the process.
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....
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