UK supermarket chain and takeover target Safeway has reportedly been seeking offers for the 53 stores that Wm Morrison would have to sell if it buys Safeway.
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Yorkshire-based supermarket firm Morrisons was told by the UK’s competition authorities that it must sell off 53 Safeway stores if it is successful in a takeover bid for Safeway.
Safeway put the stores up for sale ten days ago when it wrote to Tesco, J Sainsbury, Wal-Mart’s Asda and some smaller supermarket groups seeking offers, reported the Guardian, adding that the deadline for first offers is today [Friday].
“After discussions with the [Office of Fair Trading] and in agreement with Morrisons, we decided to invite bids for these 53 stores from the interested parties,” a Safeway spokesman was quoted by the newspaper as saying.
“It is important to point out that we are not selling these stores. We are inviting bids.
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By GlobalData“Any sale will be conditional on Morrison successfully bidding for Safeway,” the spokesman said.
