Business Services Industry
British Supermarket Slams Door on Talk of Safeway Tie-Up.
Knight Ridder/Tribune Business News, September, 2002
Daily Mail, London Knight Ridder/Tribune Business News
Sep. 20--No-frills supermarket chain William Morrison is determined to stay independent. Executive chairman Sir Ken Morrison rejects any suggestion a deal with Safeway is imminent.
"We have not had any discussions," he said. Joint group managing director Bob Stott adds: "We can't buy Safeway. We haven't got the money. And we are not up for sale."
Some think Morrisons, with its northern heartland, would be an ideal fit with largely southern-based Safeway. It would also give Safeway an alternative to an unwelcome approach from Asda owner Wal-Mart.
Morrisons underlined its position as one of the best-run companies in the sector yesterday, with another stunning set of figures....
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