Summary
SOMERFIELD, which revealed two bid approaches of up to Pounds 1.1 billion from property developers last week, has not had its store portfolio revalued for nine years, it has emerged.
Property tycoon Robert Tchenguiz and developers Ian and Richard Livingstone are said to be planning separate bids of up to 200p a share, but many City analysts estimate the stores could be worth up to 300p a share. The company has more than 1,220 stores and a property revaluation could prove key to its defence.See the full content of this document
Extract
Chain's Hidden Riches ; Financial Mail
Somerfield's ...
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