Somerfield has announced it has attracted the attention of Icelandic group, Baugur, which has built up a 2.95 per cent holding in the ailing supermarket chain.
After losing 50 per cent of its market value in October following a profit warning, Somerfield shares have now risen 2p to 76p. Market analysts forecast the troubled grocery chain will be broken up and sold, possibly to Safeway or Marks & Spencer, while its discount arm, Kwik Save will be taken privately and restructured.
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