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Major supermarkets in bidding war for Iceland
Frozen food retailer Iceland, looks set to be locked into a bidding war with both Asda and Morrisons preparing to bid upto £1.5 billion pounds.
Iceland opened its doors to the public in Oswestry, Shropshire in 1970 and now has around 750 shops and is expected to be vauled in excess of £1.5 billion.
The move would fit in with Morrisons plans as the retailed intends to move into local convenience shops which would help them to achieve this goal if their bid for Iceland is successful.
Speculation has also put supermarket rivals, Sainsbury and Tesco at the centre of the bidding war, which would create a bidding war increasing the majority stake in the chain..
Any potential bidders will also have to take on Iceland’s chief executive and founder, Malcolm Walker, who is also interested in buying the company from the creditors.
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Frozen food retailer Iceland, looks set to be locked into a bidding war with both Asda and Morrisons preparing to bid upto £1.5 billion pounds.
