Shoppers Drug Mart of Canada is believed to have made a formal £300m-£350m offer for Kingfisher’s Superdrug chain.
Kingfisher confirmed it had received approaches for the pharmacy retailer. Other possible buyers could be Wal-Mart, Walgreens or a management buyout. One weekend press report said it was considering selling the chain to Sainsbury’s. It is also thought to have received interest from Woolworths.
Kingfisher said it still intended to proceed with its planned demerger of Superdrug and Woolworths from B&Q and Comet in the second quarter. But most reports suggest the company is reconsidering despite protestations to the contrary.
Financial Times 15/01/01 page 24 (Lex), page 25
The Daily Telegraph 15/01/01 page 23, page 24 (thecitychecklist)
The Times 15/01/01 page 21 (What The Sunday Papers Say), page 24
The Independent 15/01/01 page 14, page 17 (What The Sunday Business Papers Said)
The Guardian 15/01/01 page 21
