Co-operative Group has ruled itself out of buying Londis.
Londis shareholders will vote tomorrow on whether to accept Musgrave’s £60m bid for the grocery symbol group.
Musgrave is hopeful of a positive outcome although Lancelot, a vehicle for two former executives from T&S Stores, which Tesco now owns, said the battle definitely was not over.
References: Financial Times 21/06/04 page 22
