UK: Somerfield to revalue store estate - report
UK supermarket group Somerfield is reportedly planning to reassess the value of its 1,300-store estate in its forthcoming full-year result. According to a report in the Daily Telegraph the move is an attempt to justify its rejection of a takeover bid approach from retail entrepreneurs John Lovering and Bob Mackenzie. Somerfield rejected the 120p (US$1.98) per share offer last week on the grounds that it substantially undervalued the company.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- General Mills sales woes continue - analysis
- Comment: Meal kits in US - don't believe the hype
- Why personalisation will take-off in US food
- US food next wave on display at Winter Fancy Food
- Analysis: Chocolate sector's deforestation pledge
- UK own-label firm Park Cakes sold in MBO
- Kraft Heinz cuts jobs in US, Canada
- Unilever 'lining up spreads sale'
- Immigration crackdown "risk" for US dairy industry
- Fonterra cuts earnings forecast