WOOLWORTH, UNDERWOODS FAIL TO AGREE ON BID
<Underwoods Plc> said it had not been
possible to agree terms on a bid to be made by Woolworth
Holdings Plc <WLUK.L> during talks.
    The two companies had been holding exploratory discussions.
No spokesman for either company was immediately available to
say why terms could not be agreed, nor whether the possibility
of a bid was now being abandoned.
    Last week, Underwoods shares rose 49p to 237p ahead of any
announcement of the talks. The announcement today brought them
back down to 214p from last night's close at 241p. Woolworth
was unchanged at 758p.
 REUTER
