16 September 1998
Budgens pulls out of bid talks for Booker

FOOD group Booker has lost its second takeover suitor in two weeks.

Jonathan Taylor, chairman of Booker, said talks with Budgens had failed. Both companies had seen strong logic in a merger but Budgens pulled out after officials from both sides failed to devise a formula for an all-share reverse takeover by Booker.

Booker is in closing stages of selling its fish-processing business and Daehnfeldt, the seeds business. The company was previously in talks with Somerfield.