Londis puts Musgrave offer on hold

The recommended £40m (€57.04m) offer by Cork-based Musgrave for Londis, the convenience store chain, has run into further difficulty.

Yesterday, Big Food Group, who owns the Iceland frozen food outlets, said it would offer £40.3m (€57.47m) if the 2000 independent retailers, who are Londis's shareholders, rejected the Musgrave offer.