Another US Contestant Mulls the Safeway Free-for-All

23 January 2003

The Safeway auction is getting ever more crowded.

The City of London and Wall Street Ouija boards are now spelling out the mystic runes T-e-x-a-s-P-a-c-i-f-i-c and speculation is rife that the US venture capital group is set to join the fray.

However, Texas Pacific has yet to make formal application under section 20 of the UK takeover code for the confidential corporate information provided by Safeway to the other bidders.

Nonetheless, the rumours were sufficient to boost Safeway stock to £3.24 ($5.25; €4.88) – up by £0.0875 to its highest level since it announced the agreed bid £2.5 billion all-share bid by rival supermarket chain William Morrison two weeks ago [WAMN: 10-Jan-03].

Data sourced from:; additional content by WARC staff