Newsflash Signup

Buy now at Zavvi.com
Handle

Woolworths rejects Iceland buyout bid

Bookmark with Social network
Woolworths rejects Iceland buyout bid

UPDATE: Share price leaps 15 per cent as firm turns down undisclosed offer

Shares in the Woolworths Group PLC jumped 15 per cent today, on the news that it had rejected a takeover bid from Iceland Foods Ltd for its retail division – owner of the frozen foods supermarket.

Stock rose to 7.66p-per-share, according to Bloomberg.

The chain said Iceland's bid was ‘unacceptable’ because it undervalued the company's assets and would have meant unpractical restructuring and pension liabilities.

Iceland Foods Ltd. is owned by Finland-based Baugar – which already holds a ten per cent stake in Woolworths.

Advertisement

Easy Money....

posted by Retronana Aug 18, 2008 at 3:28 pm
1
Retronana

Steve Johnson the new CEO must be over the moon, appointed last week, one of his targets was to get the Woolworths share price up to 12p a share, reward for this achievement (reportedly) £1.92 million pounds

http://www.hemscott.com/news/static/tfn/item.do?newsId=66179004263651" onclick="window.open ( this.href ); return false;" class="comment_url" >http://www.hemscot...63651

If you can find an easier way to earn nearly £2 million in a week I’d like to hear about it…

I’m sure he has just been elevated to the top of his Bank Managers Christmas card list…

  • + 0 
  • - 0 
  • 0

Re: Easy Money....

posted by Martyn Brown, Team17 Aug 18, 2008 at 4:24 pm
2
Martyn Brown, Team17

Not sure why Iceland would go after Woolies, you'd think something more closely located, such as Greenland, might be more appropriate. Not to mention cheaper.

  • + 0 
  • - 0 
  • 0

Re: Re: Easy Money....

posted by Bob Sierra Aug 19, 2008 at 10:41 am
3
Bob Sierra

Looks like they were frozen out...

I'll get my coat

  • + 0 
  • - 0 
  • 0

Re: Re: Re: Easy Money....

posted by R Aug 19, 2008 at 10:47 am
4
R

@1 - All the suggestions I can think of involve visiting banks whilst wearing a balaclava - but that still wouldn't be as easy as saying "no thanks".

@2, 3 - Oh dear.

  • + 0 
  • - 0 
  • 0

Leave a Comment

Handle
MCV

ABOUT US

MCV is the leading trade news and community site for all professionals working within the UK and international video games market. It reaches everyone from store manager to CEO, covering the entire industry. MCV is published by Intent Media, which specialises in entertainment, leisure and technology markets

Intent media, Company number 03641099