Business Services Industry
Battle over Safeway Continues in Britain.
Knight Ridder/Tribune Business News, January, 2003
Daily Mail, London Knight Ridder/Tribune Business News
Jan. 24--The Wm Morrison opening offer for Safeway was doomed from the day it sounded the starting gun on January 7. Even though most rivals accept that of the trade players, Morrison has the clearest path through the regulatory forest, a meanly-pitched paper bid was never going to be enough.
There are real questions as to whether Morrison, which is now the minnow among sharks in these waters, will ever muster the financial muscle to overcome the opposition.
It has not been helped by the appearance in the middle of proceedings of the Higgs Report, which focuses an intense glare on Morrisons" corporate governance shortfalls.
Where does this leave us? The venture capitalists...
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