Published reports say that Somerfield, the UK’s sixth largest supermarket chain, has rejected an acquisition bid for the equivalent of $796 million (US), saying that the price did not reflect the company’s value.
The leader of the consortium looking to buy the 1,300-store Somerfield, entrepreneur John Lovering, has said in the past that a hostile takeover bid was not in the cards, but there remains the possibility that he could raise the offer price.
The leader of the consortium looking to buy the 1,300-store Somerfield, entrepreneur John Lovering, has said in the past that a hostile takeover bid was not in the cards, but there remains the possibility that he could raise the offer price.
- KC's View:
- There will be another bid. Trust us.
