The chief executive and founder of U.K. supermarket operator Iceland Foods Group is leading a management team in its negotiations to acquire the company from two failed Icelandic banks for about $2.4 billion, The New York Times reports.
Malcolm Walker, who wants to buy the 77 percent of the supermarket chain that his management group doesn’t already own, is negotiating the potential acquisition with liquidators of Landsbanki Islands and Glitnir banks. Iceland Foods, which announced the talks Wednesday, operates more than 700 stores in the U.K.
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