The Guardian reports that Icelandic company Baugur’s bid to take over the British Somerfield supermarket chain has been rejected. A bid valued at one billion pounds, or 190p a share, was rejected outright.
The Guardian speculates that “Somerfield’s concerns probably centre on whether Baugur would slash its offer after seeing its books.”
Baugur made the offer thirteen days ago, the day after it took control of Big Food Group for 326 million pounds.
