Wal-Mart, the US retailer, yesterday denied comments suggesting it had ruled itself out of a potential bid for Matalan, the discount clothing and furnishings retailer. The Takeover Panel forced Wal-Mart to issue a statement saying that it had “not authorised” comments over the weekend, attributed to one of the retailer’s advisors, claiming that it had ruled out a bid.
It is thought by analysts that this latest statement from Wal-Mart meant that the retailer was not likely to bid for Matalan in the near future, but might come up with a bid at a later date.