Shares in B&M climb 4% as Asda circles
Shares in Liverpool-based discount retailer B&M have risen 4% following news that Asda is poised for a £4.4bn takeover bid.
Walmart-owned Asda – the UK’s third largest supermarket chain - is said to be attempting to see of competition from rivals successful cut-price rivals Lidl and Aldi.
Asda has suffered 11th consecutive quarter of declining sales in May, while B&M’s 500 stores are seen as an outlet for products like its George clothing range.
Asda is believed to be in the early stages of assessing a potentia... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
