Nisa-Today's rejects new Bibby offer
Saturday 29 August 2009
Nisa-Today's rejected a second takeover attempt by the majority shareholder behind the Costcutter convenience store chain yesterday.
Bibby Line Group, which owns 51 per cent of Costcutter, offered to acquire the business for £134m but was rejected on value grounds and as the deal would have meant the loss of Nisa's mutual business model. Nisa-Today's acts as a co-operative using the buying power of the group of retail members to negotiate deals with suppliers. Bibby provides distribution services to it, while Costcutter is part of the buying group. Nisa said the approach was a "significant improvement" on July's offer but was not in the best interests of members, who own up to 100 shares each. Bibby said its "improved and final offer" would have landed many members with a £120,000 payout.
- 1 Snoop Dogg and Jared Leto buy a stake in Reddit as A-list invests $50m
- 2 Car tax disc changes: Two days to go - and they affect you much more than just not displaying a piece of paper
- 3 Ed Sheeran dedicates song to David Cameron
- 4 Now we know whose fault it is if you end up being murdered in Thailand
- 5 35,000 walrus gather ashore on north-west Alaska beach 'for a rest'
Snoop Dogg and Jared Leto buy a stake in Reddit as A-list invests $50m
Five-year-old Iris Grace is raising awareness of autism through her extraordinary paintings
Car tax disc changes: Five facts you never knew about your (almost obsolete) tax disc
The Aral Sea: Nasa pictures show how what was once the fourth largest lake in the world has become almost completely dry
Amal Alamuddin: Human rights lawyer's legal chambers forced to upgrade website following George Clooney wedding
Isis, we are told, is a 'clear and dangerous threat to our way of life'. I’m sorry, but I just don’t buy it
Exclusive: 'Putin's Russia has been my biggest regret,' says Nato's outgoing Secretary General
The Osborne Ultimatum: Chancellor’s benefits freeze bombshell will affect ten million households
There’s no excuse for Dave Lee Travis’s behaviour, but we need to keep a sense of proportion
Should gay sex be illegal? 16% of Britons think so
Mark Reckless becomes second Tory MP to defect to Ukip in a month
- < Previous
- Next >
iJobs Money & Business
£18000 - £23000 per annum + Commission: SThree: Real Staffing are currently lo...
NEGOTIABLE: Austen Lloyd: TRUST ACCOUNTANT - KENTIf you are a Chartered Accou...
£18000 - £20000 per annum + OTE £30000: SThree: SThree are a global FTSE 250 b...
Highly Competitive Salary: Austen Lloyd: CITY - Law Costs Draftsperson - NICHE...