PRINT THIS PAGE UK retailer Woolworths rejects Apax Partners' £789m takeover bid09/02/2005. Source: AltAssets. 
 UK retailer Woolworths has rejected an indicative proposal from buy-out group Apax Partners that could have been worth up to £789m. Apax is considering taking private the UK retailer and offers between 50-55p per share.
The board of Woolworths said in a statement that 'the range indicated does not provide acceptable value or certainty to justify entering into detailed discussions with Apax'.
Woolworths recently suffered from poor sales results over the Christmas period, triggering the approach from the private equity firm. Following Apax confirmation a few days ago that it is trying to take Woolworths private, the retailer's shares jumped more than 22 per cent.
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