WOOLWORTH, UNDERWOODS FAIL TO AGREE ON BID

  &lt;Underwoods Plc> said it had not been
  possible to agree terms on a bid to be made by Woolworth
  Holdings Plc &lt;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.
  

