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Big four rivals Asda and Morrisons are thought to have joined a number of private equity bidders for frozen food retailer Iceland. The long-awaited auction sparked into life on Wednesday, which was deadline day for the first round of bids.
Morrisons appears to have signalled its intention to bid for frozen food retailer Iceland by appointing Credit Suisse as an advisor. Iceland’s majority owners, the officials responsible for the winding up of Icelandic bank Landsbanki, put their 67% stake up for sale in May.
Kerry Foods acquisition of Headland Foods has been referred to the Competition Commission, after retailers complained of post-merger price hikes on frozen ready meals.
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