Somerfield board backs £1.1bn bid

A bid worth £1.1bn (€1.6m) for supermarket chain Somerfield was backed by the company’s board today.

Fri, 14 Oct, 2005 - 10:38

A bid worth £1.1bn (€1.6m) for supermarket chain Somerfield was backed by the company’s board today.

The UK’s fifth biggest grocer agreed the terms with a consortium featuring property tycoon Robert Tchenguiz, private equity firm Apax Partners and investment bank Barclays Capital.

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