Grocery retailer Somerfield has rejected a takeover approach from Icelandic retail group Baugur.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more


“It would not be in the interests of shareholders to give further consideration to this proposal,” Somerfield’s Board said in a statement.


On 9 February 2005, Somerfield announced that it had received an approach fro Baugur on  an offer worth around £1bn (US$1.9bn).


“The Company has recently made a number of strategic acquisitions, and is in the process of finalising negotiations for the proposed purchase of approximately 140 Texaco forecourt convenience stores,” it said “The Board is confident that these moves, together with the store regeneration programme, will significantly strengthen Somerfield’s competitive position.”


 

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now