Baugur Group yesterday made a take over bid on British supermarket chain Somerfield for 118 billion kronur. According to The Guardian, the bid is informal at this stage.
Shares in Somerfield went up by 14 percent yesterday when the offer became known. According to Anthony Platts, a financial expert for the Guardian, Baugur probably intends to merge the Baugur-owned British supermarket Iceland with Somerfield, which will be a very wise move for growth.
