Budgens pulls out of bid talks for Booker

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.

• Booker and Budgen still talking, FWi, 10 September 1998
• Booker confims Budgen is in its sights, FWi, 8 September, 1998
• Booker to release details of merger talks, FWi, 7 September, 1998
• Booker share surge on bid speculation, FWi, 11 August, 1998
• The Times 16/09/98 page 23
  
• The Independent 16/09/98 page 17
  
• Financial Times 16/09/98 page 24 (Lex), page 25
  
• The Guardian 16/09/98 page 25
  
• The Herald 16/09/98 page 27