Amadeusz Juskowiak

Woolworth underwoods fail to agree on bid

Underwoods Plc said it had not been possible to agree terms on a bid to be made by Woolworth Holdings Plc WLUKL during talks

The two companies had been holding exploratory discussions No spokesman for either company was immediately available to say why terms could not be agreed nor whether the possibility of a bid was now being abandoned

Last week Underwoods shares rose 49p to 237p ahead of any announcement of the talks The announcement today brought them back down to 214p from last nights close at 241p Woolworth was unchanged at 758p