Fresh bids have been lodged as the battle to take over the Somerfield group gathers pace.
Following interest from Asda, property group London & Regional has raised its bid to match that of property tycoon Robert Tchenguiz and Icelandic retail group Baugur.
The Baugur-Tchenguiz consortium wrote to Somerfield to confirm its 250p-a-share offer, valuing the chain at £1.12 billion. London & Regional had originally offered just 190p a share.
Analysts said the latest bidding would make Somerfield more confident a firm offer will emerge, however both groups could still pull out.
