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Article: Hot topic.(Bibby Line Group Ltd's bid for Nisa Today's Ltd.)(Brief article)
- Article from:
- Grocer
- Article date:
- August 8, 2009
- Author:
CopyrightCOPYRIGHT 2009 William Reed Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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"We didn't want this," said Nell Turton, CEO of buying group Nisa-Today's, in reaction to a 51m [pounds sterling] takeover bid from Bibby Line.
Turton is worried that the offer may plunge Nisa into the kind of chaos it experienced three years ago when Costcutter--its biggest member and a business that Bibby owns a 51% stake in--put a merger offer on the table.
There was five months of bitter infighting--and a complaint to the Office of Fair Trading--before the bid was family dropped.
Since then, Nisa has rebounded and enjoyed a period of stability in which it ...