Morrisons is planning to table a fresh bid for Safeway before Christmas, as the government has received the competition undertakings agreed by the UK's leading supermarkets.
Following news that the Office of Fair Trading has ended its protracted negotiations over potential disposals, matched with reports that informal talks have started between Morrisons and Safeway. Hopes have been raised for a speedy resolution.
Sources closes to Sir Ken Morrison have said that he was pleased that the undertakings had finally been agreed. Morrisons will have 21 days to make a bid once the government publishes the undertakings, although the group is not expected to take three weeks to make an offer. A source said: “Sir Ken hopes to make a fresh bid before Christmas.”
Many analysts believe that Morrisons will come back with a lower offer, as the size of the business ñ after disposing of 53 stores ñ will be smaller than planned.
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