Iceland misses BhS bid deadline

8 March 2000



Iceland misses BhS bid deadline

FOOD retailer Iceland has failed to put in an offer for the BhS department stores by the Tuesday (7 March) deadline.

Last week Iceland had tentative talks with BhS owner Storehouse, and had been expected to make an offer.

The Daily Telegraph reports that Iceland chairman Malcolm Walker was disappointed that news leaked, prompting his companys shares to fall.

It is not known if he has backed away from a bid at present to put more pressure on the Storehouse board.

Meanwhile, Ahold, the Dutch supermarket chain, has announced a shift away from food retailing with a US$8.6 billion (5.4bn) takeover of Americas second largest food distributor, US Foodservice.

• The Daily Telegraph 08/03/2000 page 36
  
• Financial Times 08/03/2000 page 32