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Conglomerate not considering an offer for UK supermarket chain
Agreement runs for 5 years and is worth about £500m a year
Efforts to sell or restructure supermarket supplier failed
Retailer will conduct due diligence before making a formal offer for the small chain
Industry set for long-term overhaul as customers demand fresher food from local convenience stores
Convenience store chain dips into £3m loss as competition bites
Sir Michael Bibby says market needs ‘smaller number of big players’ to compete with chains
International Edition