Somerfield has received three takeover offers, including bids from two "British household names", according to The Guardian. The chain , run by the former Asda boss Paul Mason, has reinvented itself as a chain of convenience stores, the paper said, and could appeal to Asda, Sainsbury's or Waitrose. It is owned by property developer Robert Tchenguiz, the private equity firm Apax Partners and Barclays Capital.
Scottish & Newcastle could return several billion pounds to shareholders through asset disposals if it "escapes the clutches" of Carlsberg and Heineken. The Times said the group, which owns the Kronenbourg, John Smith's and Strongbow brands, rebuffed the bidding consortium's latest salvo, worth 780p a share, last week, insisting it would not enter talks at anything less than 800p.
Tesco has struck a deal to allow shoppers to book holidays in-store with Virgin Holidays. Virgin will operate four concessions in Tesco stores from next month as part of a six-month trial. It will also display holiday brochures in 50 stores and offer shoppers a £100 discount on bookings when they spend more than £100 on groceries.
M&S took a pasting in the nationals this week for its poor Christmas figures but the Sunday Telegraph put the boot in the hardest with the headline 'Is this a slump? Or is this an M&S slump?'. The paper reported that the M&S sales collapse had left many city analysts red-faced. As fears of a consumer slowdown grew in recent months, analysts had recommended investors switch to M&S.