Even as British authorities consider the various bids being put on the table by six different companies for Safeway Plc, Tesco -- the nation's number one food retailer -- has sent letters to a number of Safeway's stakeholders explaining why it is the best choice to acquire the company.
Tesco said in the letter that it believed it could keep about 75 percent of Safeway's stores despite competition concerns, would offer more products and services than most other retailers, and would ensure continued and healthy competition.
Tesco said in the letter that it believed it could keep about 75 percent of Safeway's stores despite competition concerns, would offer more products and services than most other retailers, and would ensure continued and healthy competition.
- KC's View:
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How do the British refer to "cojones?" Because that's exactly what it took to write a letter like this…
We love Tesco's stores and have had nothing but good journalistic experiences with its management, but we think that if they get Safeway it'll because it decides to offer the most cash. Saying that combining the number one and number four food retailers won’t cause competition concerns just seems ludicrous on the face of it. Maybe it's that dry British wit coming through…
A local environmental group has taken the same position, challenging virtually all of Tesco's assertions and referring to its application as "laughable." Could it be that they don't get the British witticisms either?
