The Week: City news - Woolworths rejects offer
campaignlive.co.uk, Friday, 22 August 2008 12:00AM
Malcolm Walker, the owner of Iceland, has had a takeover bid rejected by the struggling high-street retailer Woolworths.
The Baugur Group, the Icelandic investment company that owns 10 per cent of Woolworths, backed the offer, which is thought to have totalled less than £50 million. The retailer said that the offer was too low and would have burdened it with pension liabilities.
This article was first published on campaignlive.co.uk
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