- Published reports in the UK say that Marks & Spencer has approached Wal-Mart about acquiring some Safeway Plc stores if the Arkansas-based retailer is successful in its bid to acquire Britain’s fourth largest food retailer. There have been estimates that Wal-Mart would have to sell close to 200 stores to be approved by the UK’s competition authorities.
- The UK’s Consumers’ Association has announced that it is in favor of the bid made by William Morrison Supermarkets for Safeway, reasoning that a Morrison acquisition of the company would be better for consumers by creating a strong counterpoint to powerhouses Tesco, Sainsbury and Wal-Mart’s Asda Group.
- The Transport and General Workers’ Union (TGWU) announced that it is supporting the Sainsbury bid for Safeway, judging that this acquisition is more likely to retain jobs for its membership.
- Waitrose, a subsidiary of the John Lewis Partnership, said that it has asked the government’s competition authorities to review every bid for Safeway, regardless of what company makes it. Waitrose said that regardless of which company acquires Safeway, the potential impact on consumers is enormous and needs to be watched by government regulators.
- Retailer Philip Green formally submitted his bid to acquire supermarket chain Safeway Plc this morning, becoming the fifth entity to do so. Only Kohlberg Kravis Roberts, the US buyout firm, has indicated interest but not submitted a bid.
- KC's View:
We know that there will always be an England, but this game is going to play out for so long that by the time it gets resolved, there may actually not be.