There are varying reports out of the UK saying that the Reuters reports that Britain's consumer affairs authority, the UK Office of Fair Trading (OFT), has begun the examination of at least some of the bids that have been made for Safeway Plc there.
Both Wm. Morrison and Wal-Mart have formally filed their bids with the OFT. PlanetRetail.net reports this morning that the Morrison’s bid states that its acquisition of Safeway would result in just seven locations out of a total of almost 600 where there is overlap, and that a deal will create a strong fourth retail food player in the UK.
In a breaking development this morning, Reuters reports that Sainsbury looking for a company to buy as many as 90 Safeway stores that it would need to unload if it were to win the sweepstakes to acquire Safeway Plc.
Both Wm. Morrison and Wal-Mart have formally filed their bids with the OFT. PlanetRetail.net reports this morning that the Morrison’s bid states that its acquisition of Safeway would result in just seven locations out of a total of almost 600 where there is overlap, and that a deal will create a strong fourth retail food player in the UK.
In a breaking development this morning, Reuters reports that Sainsbury looking for a company to buy as many as 90 Safeway stores that it would need to unload if it were to win the sweepstakes to acquire Safeway Plc.
- KC's View:
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We’re rooting for Morrison, just because a battle that includes four strong companies is a lot more interesting to write about that one in which there are three combatants. And the way these companies are going, it looks to be blood sport at its best.
Curious about why how Safeway got into this position, and why its assets are being pursued so hungrily? Our friends at M+M Planet Retail graciously gave us some background…, which is in our next story.
