Toys, sweets and music retailer Woolworths has revealed that talks with BHS department store owner Philip Green about a possible merger have ended.
"After due consideration of the potential benefits of a merger, the board does not believe that such a merger, with its attendant risks and uncertainties, would be in the best interests of shareholders," Woolworths said today.
The statement puts an end to takeover speculation that has swirled around Woolworths in recent days.
Since Wednesday the stock has risen 21 per cent from 43 pence to 52p. The shares slipped back to 47-1/4p following the news.
Woolworths said its most important priority now was to continue with its recovery plan.
