(expired)Bookie Bets On Race For Woolies
Bookie Paddy Power has installed property magnate Ardeshir Naghshineh as the 6/4 favourite in the race to takeover Woolworths.
As Woolworth’s biggest shareholder Naghshineh has not only expressed interest but gone so far as outlining a plan to turn the chain into an employee-owned business whilst selling leases to bring in cash.
TV Dragon Theo Paphitis is the 5/2 second favourite after holding talks with Deloitte about a takeover however restructuring specialists Hilco are out at 16/1 after pulling out of their talks to buy the chain for £1.
Existing high street stores, many of which have planning permission to sell food, are also thought to have expressed interest and Paddy Power has installed the biggest of the lot, Tesco, as 6/1 third favourites with ASDA at 8/1, Sainsbury at 10/1 and discount stores Poundland and Wilkinson at 18/1 and 20/1, respectively.
Darren Haines, spokesman for Paddy Power, said: “Punters have been looking to place a bet on the Woolies winner and with several runners and riders in the frame it could make for an interesting and highly competitive race.
“With 10% of the company already in his name Naghshineh is the early favourite having already got one foot in the door.”Who will buy Woolworths?
6/4 Ardeshir Naghshineh
5/2 Theo Paphitis
6/1 Tesco
8/1 ASDA
10/1 Sainsbury
10/1 New Look
12/1 Iceland
14/1 Boots
16/1 Hilco
18/1 Poundland
20/1 Wilkinson
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