
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.
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Comments
Easy Money....
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…
Re: Easy Money....
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.
Re: Re: Easy Money....
Looks like they were frozen out...
I'll get my coat
Re: Re: Re: Easy Money....
@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.
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