Hundreds of convenience store shopkeepers could be in line for huge payouts following a takeover approach for Nisa-Today’s that may lead to the demutualisation of Europe’s largest independent buying group.

The Bibby Line Group, a privately-owned company that owns 51% of retail chain Costcutter, has approached Nisa-Today’s board with an offer to buy the company.

However, the offer from Bibby Line – a family-backed shipping and logistics company based in Liverpool – has been rejected by Nisa-Today’s board.

Sunday Telegraph