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Woolworths turns down Iceland bid

By
Nishikant
on August 17, 2008 9:56 PM | | Comments (0) | TrackBacks (0)
Troubled retailer Woolworths says it has rejected a bid for its network of 815 stores, calling it "unacceptable".

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Woolworths confirmed reports that the boss of the Iceland frozen food chain, Malcolm Walker, had made an offer to buy its retail division. However, the company's board said the proposal undervalued its assets and involved a complex restructuring, which was not achievable.

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This page contains a single entry by Nishikant published on August 17, 2008 9:56 PM.

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