Big Food Group gets cut-price offer from Baugur

Big Food Group, the British food retailer, has bowed to a cut-price £326m (€469m) takeover offer from Baugur, the Icelandic investor.

Following more than three months of talks, the board of Big Food, advised by Citigroup and UBS, accepted the 95p-a-share offer. Baugur is being advised on the deal by Deutsche Bank.

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