Dutch retailer Jumbo has told just-food that it is in exclusive talks with the majority shareholder of takeover target Super de Boer amid speculation that a counter-bid could be made for the business.
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Privately-owned Jumbo made a EUR480m (US$704.3m) offer for fellow Dutch grocer Super de Boer last Friday (18 September).
Jumbo is discussing the bid with French retail giant Casino, which owns 57% of Super de Boer. However, reports in the Netherlands have claimed a rival approach could emerge in the form of a joint offer from Schuitema and Sperwe Group.
Nevertheless, a Jumbo spokesperson said his company is currently the sole party in talks with Super de Boer’s controlling shareholder.
“The period of exclusivity between Casino and Jumbo lasts for 30 days,” the spokesperson told just-food.
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By GlobalDataShares in Super de Boer jumped by more than 6% today amid talk of a potential bidding war, although the retailer’s other rumoured suitors were tight-lipped.
Schuitema, which runs the C1000 chain and which was linked to a possible purchasing venture with Super de Boer earlier this year, could not be reached for immediate comment.
Sperwer Group, which runs the Plus chain in the Netherlands, stayed tight-lipped. “The direction is not for any comment,” the company said.
