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October 5, 2009

NETHERLANDS: Sperwer to make offer for Super de Boer

Super de Boer is set to receive a second takeover bid for the business, the Dutch retailer said today (5 October).

Super de Boer is set to receive a second takeover bid for the business, the Dutch retailer said today (5 October).

Sperwer Holding, which had been linked to a joint bid for Super de Boer with fellow Dutch grocer Schuitema, has made an offer of EUR4.50 (US$6.58) a share.

Last month, Super de Boer received a EUR480m bid from another Dutch retailer, privately-owned Jumbo. The two sides remain in exclusive talks, although Jumbo’s period of exclusivity runs out in two weeks.

Schuitema, which runs the C1000 chain in the Netherlands, has told Super de Boer that it will not be making a bid for the business.

Sperwer Holding has told Super de Boer that it has obtained committed financing for its offer, subject to the fulfilment of certain conditions.

The offer is also subject to the cooperation of the board of management and the supervisory board, as well as confirmatory due diligence that has not yet started.

Super de Boer said today that it will assess Sperwer’s offer and an announcement will be made “if circumstances so require”.

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