THE RETAIL BULLETIN - The home of retail news
HOME
VIRTUAL EVENTS
Department Stores
Electricals
Entertainment
Fashion
Food & Drink
General Merchandise
Health & Beauty
Home & DIY
Interviews
Newsletter
Property
Retail News
Shopping Centres & Retail Parks
Sports & Leisure
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT
CONTACT
SUBSCRIBE FOR FREE
Seventh Safeway bidder in wings

Morgan Stanley advising unidentified client January 25 2003 Yet another bidder for supermarket group Safeway appears to be about to declare their hand, after evidence that… View Article

GENERAL MERCHANDISE

Seventh Safeway bidder in wings

Morgan Stanley advising unidentified client
January 25 2003
Yet another bidder for supermarket group Safeway appears to be about to declare their hand, after evidence that investment banker Morgan Stanley is advising a client on a bid.

The bank restricted its food analysts from discussing the furore surrounding the six known bidders for Safeway, creating speculation that Morgan Stanley is working for a client hoping to join the line-up of interested parties.
Marks & Spencer is a long standing client of Morgan Stanley, but the fact that the banks clothing analysts have not been restricted suggests that M&S is not considering a bid. The high street retailer is thought to be more interested in picking up a smaller number of urban Safeway stores which could be converted to its Simply Food format.
French supermarket giant Carrefour, seen as likely candidate for an offer, said again that it has no intention of bidding for Safeway. Venture capitalist Texas Pacific Group also said it was not working with Morgan Stanley.
The only formal bid for Safeway on the table remains that of Morrison, which has seen Safeway withdraw its recommendation of the offer. Other declared potential bidders are Tesco, Sainsbury’s, Wal-Mart, Philip Green, and Kohlberg Kravis Roberts.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

RELATED ARTICLES

Show more related articles >

TAGS

Subscribe For Retail News