A group of shareholders in convenience store firm Londis have reportedly threatened to vote against an outright sale of the group and only approve minority offers.
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While the UK’s Big Food Group is believed to be considering a minority offer, the Cooperative Group is also now believed to be interested. Nisa-Today’s, a UK buying group for independent retailers and wholesalers, has also been in talks with Londis shareholders over a possible minority bid. Irish grocery wholesaler Musgrave has had its £60m (US$106.3m) takeover offer recommended by the Londis board, but some shareholders are opposed to an outright sale, reported the Financial Times.
“Our priorities are keeping the mutuality status and a bidder taking a minority stake. So far, BFG fits this bill but there could be others,” Kishor Patel, chairman of the Londis Shareholders Action Group, was quoted by the FT as saying.
