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And then there were three: Iceland £1.5bn deal Saturday, 28th January 2012
Three parties will be spending the weekend finalising their plans for the second round of full-financed bids for Iceland Foods, with offers now expected on or before 31 January.
Buyout firms Bain Capital and BC Partners are said to be working on bids, along with supermarket chain Morrisons. Iceland Foods is valued at around £1.5 billion.
Asda had decided not to bid for the group in its entiretuy, and will seek to pick up stores divested by the winning bidder, according to a source speaking to Dow Jones Newswires. Rival frozen foods retailer Farmfoods Ltd and the Co-operative are also hoping to pick up individual stores, or groups of stores, which are shed in the auction.