Musgrave offer may be derailed

MUSGRAVE’S bid for the British Londis chain of convenience stores may be derailed for a second time.

A rival bid for the 2,000-strong chain of Londis shops was pitched at the same £60 million (€90m) level as Musgrave, but the new bidder is offering shareholders the chance to still hold a stake in the company.

The new offer was launched yesterday by two former executives from T&S in partnership with Icelandic bank Kaupthing.