Musgrave focuses on Londis bid

CASH & carry group Musgrave said it is still interested in acquiring the Londis operation in Britain.

While the offer of £40million has proven controversial with Londis shareholders, who own 2,200 outlets in Britain, Cork-based Musgrave said it would like to acquire the business if it is still up for sale.

Musgrave had secured the backing of Londis management in early December for its bid, which would have seen half of the proceeds going to four directors of Londis and only £10,000 to each retailer. But the Londis board withdrew its backing for the offer just before Christmas as other bidders emerged.