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Network Journal Issue 04 |
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Fresh bid expected for Safeway
Northern-based retailer Morrisons looks set to make a fresh bid for Safeway following developments at the Office of Fair Trading - signalling a potential beginning of the end for the protracted saga.
The other big retailers, blocked by the competition commission for bidding for Safeway, have now signed undertakings governing the disposal of some 53 Safeway stores Morrisons is obliged to sell should the takeover go ahead.
The new offer could be tabled before Christmas with reports that Morrisons and Safeway have already had informal talks.
Back in January this year, Morrisons sparked a six-way battle for the Safeway chain with a £2.9bn offer.
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