WOOLWORTHS: New talks over stores bid

Chief executive of Iceland meets Woolworths? leading shareholder to discuss a takeover bid, according to The Financial Times.
Author:
Publish date:
Social count:
0
5_Pocoyo.jpg

Malcolm Walker, who is fronting a consortium led by Baugur, the Icelandic investment group, offered £50m for the stores last month. The offer was rejected by the retailer.

Ardeshir Naghshineh, the property investor and organic farmer, has built a 10.2 per cent stake in Woolworths and last week said he supported the board's rejection of the offer from Mr Walker.

The intentions of Mr Naghshineh are unclear and it is possible that Baugur and Mr Walker could find an alternative structure that would satisfy the entrepreneur.

Steve Johnson, started as chief executive of Woolworths last week with a brief to explore radical options to re-energise the beleaguered group.

Mr Johnson acknowledged that speculation about a possible deal with Baugur could last "months" but said that he intended to improve the performance of the retail division to silence the talk.

For the full story, click here.

Source: The Financial Times

Related

Featured Jobs

Vivid Job Logo 620 x 349

Digital Marketing Executive - Toys & Games

Vivid is Britain’s biggest toy company and the 20 largest in the world. With offices across the globe, they sell an amazing portfolio of toys and games to over 60 countries. Vivid is best known for its association with blockbuster brands and is very excited about future opportunities around the world.

Liberty

UK Sales Agents

Liberty House Toys have been appointed as the exclusive UK distributor for the BiOBUDDi brand, and we are pleased to introduce this new unique, innovative and exciting range of 100% environmentally-friendly toy building blocks. We are seeking experienced sales agents with existing network in the toy retail market.

Gameplan Job Logo 620 x 349

Head of Product Development & Marketing

Our client is a privately owned French toy and games manufacturer which sells through distributors in forty countries. The company develops and sells innovative electronic interactive toys and games for the educational and gaming markets, and also takes suitable licenses. To progress its successful business development a Head of Product Development & Marketing is to to recruited.

HIT Entertainment Job Logo 620 x 349

Licensing Systems Administrator

The Contract System Coordinator is a newly created role to support the deal term entry process into Mattel’s new Contract Management System for its Licensing business. The role will support the Business Teams at the Deal & Amendment phase of the contracting process and act in conjunction with the System Administration team.