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Article: Bibby ups its offer in second bid for Nisa.(news)(Bibby Line Group Ltd.)(Nisa Today's Ltd.)(Brief article)
- Article from:
- Grocer
- Article date:
- August 29, 2009
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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Bibby Line Group has made a second bid to buy Nisa-Today's, which was being discussed by the buying group's board as The Grocer went to press.
Bibby, which owns 51% of Nisa's biggest member Costcutter, said it was now offering 1,200 [pounds sterling] per share, and has valued the company at 134 [pounds sterling]m.
This is a 20% increase on the 1,000 [pounds sterling]-per-share offer it made last month.
A Nisa statement said: "Nisa-Today's has received a second approach from Bibby Line Group, which may or may not lead to an offer to acquire the share capital of the company."
The board dismissed the first bid without allowing its members ...