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26/09/2003
Morrison's bid for Safeway gets green light
The Morrison's bid for Safeways has been given the green light, but on the proviso that it sells off some of its stores, it has been announced today.
The Competition Commission's report, which was accepted today by the DTI, found that the bid would go "against the public interest in certain local areas" where the number of competing supermarkets would be reduced. However, should Morrisons divest itself of 53 stores in areas where local competition concerns would arise as a result of the acquisition, the bid for Safeway will be allowed to proceed.
The Competition Commission said 48 of these stores are one-stop shopping stores (stores greater than 1400 square metres in size), and five are smaller stores.
For Asda, Sainsbury's and Tesco the Commission concluded that each of the parties should be prohibited from acquiring the whole or any part of Safeway, other than Safeway stores that are divested to "remedy the adverse effects specified in the case of the merger in contemplation between Morrisons and Safeway".
Mrs Hewitt has asked the Office of Fair Trading (OFT) to negotiate undertakings with Morrisons in relation to the limited store divestments. She has also asked the OFT to negotiate undertakings with Asda, Sainsbury's and Tesco in relation to the prohibition of these proposed mergers.
Competition Commission Chairman Sir Derek Morris today welcomed Trade and Industry Secretary Patricia Hewitt's decision to accept, in full, the Commission's recommendations.
Sir Derek said: "If Morrison's are successful with their bid for Safeway we would expect them to become a strong national player. They should exert a positive competitive effect on the grocery retail sector, and benefit shoppers.
"The Commission had just over four-and-a-half months to investigate four merger situations. All of these needed to be assessed as to their likely impact on competition, at the national and local levels, in the one-stop grocery retail sector, and more widely."
(gmcg)
The Competition Commission's report, which was accepted today by the DTI, found that the bid would go "against the public interest in certain local areas" where the number of competing supermarkets would be reduced. However, should Morrisons divest itself of 53 stores in areas where local competition concerns would arise as a result of the acquisition, the bid for Safeway will be allowed to proceed.
The Competition Commission said 48 of these stores are one-stop shopping stores (stores greater than 1400 square metres in size), and five are smaller stores.
For Asda, Sainsbury's and Tesco the Commission concluded that each of the parties should be prohibited from acquiring the whole or any part of Safeway, other than Safeway stores that are divested to "remedy the adverse effects specified in the case of the merger in contemplation between Morrisons and Safeway".
Mrs Hewitt has asked the Office of Fair Trading (OFT) to negotiate undertakings with Morrisons in relation to the limited store divestments. She has also asked the OFT to negotiate undertakings with Asda, Sainsbury's and Tesco in relation to the prohibition of these proposed mergers.
Competition Commission Chairman Sir Derek Morris today welcomed Trade and Industry Secretary Patricia Hewitt's decision to accept, in full, the Commission's recommendations.
Sir Derek said: "If Morrison's are successful with their bid for Safeway we would expect them to become a strong national player. They should exert a positive competitive effect on the grocery retail sector, and benefit shoppers.
"The Commission had just over four-and-a-half months to investigate four merger situations. All of these needed to be assessed as to their likely impact on competition, at the national and local levels, in the one-stop grocery retail sector, and more widely."
(gmcg)
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24 June 2003
Competition Commission may block bids for Safeway
In a lengthy statement today the Competition Commission has outlined why it may move to block some of the suitors’ bids for supermarket chain Safeway in the public interest. Four bids have been referred for consideration buy the watchdog as fears grow that a takeover could undermine competition in the retail sector.
Competition Commission may block bids for Safeway
In a lengthy statement today the Competition Commission has outlined why it may move to block some of the suitors’ bids for supermarket chain Safeway in the public interest. Four bids have been referred for consideration buy the watchdog as fears grow that a takeover could undermine competition in the retail sector.
02 April 2014
M&S To Open 250 Food Stores
Today at Marks & Spencer's Investor Seminar in Paris, the retailer unveiled plans for further international expansion with a focus on opening 250 new stores, growing its Food business and increasing its franchise operations.
M&S To Open 250 Food Stores
Today at Marks & Spencer's Investor Seminar in Paris, the retailer unveiled plans for further international expansion with a focus on opening 250 new stores, growing its Food business and increasing its franchise operations.
05 October 2012
Doncaster Tesco Drivers To Strike For 48 hours
More than 180 drivers at the Tesco distribution centre in Doncaster will strike for 48 hours next week, disrupting supplies to Tesco stores across the region. The strike will start at 00:05 on Tuesday 9 October and will end at 00:05 on Thursday 11 October and will cause havoc in supplying the Tesco stores in the Yorkshire and Humber region.
Doncaster Tesco Drivers To Strike For 48 hours
More than 180 drivers at the Tesco distribution centre in Doncaster will strike for 48 hours next week, disrupting supplies to Tesco stores across the region. The strike will start at 00:05 on Tuesday 9 October and will end at 00:05 on Thursday 11 October and will cause havoc in supplying the Tesco stores in the Yorkshire and Humber region.
21 July 2005
Sluggish retail sales growth peaks in June
The latest figures from the Office for National Statistics have revealed that in June the underlying rate of growth in retail sales volumes was the highest so far this year. However, the annual growth has remained the lowest for more than six years, according to data released today by the ONS.
Sluggish retail sales growth peaks in June
The latest figures from the Office for National Statistics have revealed that in June the underlying rate of growth in retail sales volumes was the highest so far this year. However, the annual growth has remained the lowest for more than six years, according to data released today by the ONS.
18 November 2004
Figures show slide in retail sales growth
Underlying retail sales growth is distinctly lower than in the first half of this year, according to figures published today by the Office for National Statistics (ONS). The latest retail sales survey for October 2004 found that the volume of sales in the three months August to October was 1.
Figures show slide in retail sales growth
Underlying retail sales growth is distinctly lower than in the first half of this year, according to figures published today by the Office for National Statistics (ONS). The latest retail sales survey for October 2004 found that the volume of sales in the three months August to October was 1.
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Northern Ireland WeatherToday:After a dry start this morning rain will spread from the northwest across all parts. This afternoon will be dull with some patchy rain and drizzle. Becoming much milder through the afternoon. Maximum temperature 11 °C.Tonight:A cloudy evening and night with a little light rain or drizzle, perhaps some clear periods developing along the east coast. A very mild night everywhere. Minimum temperature 10 °C.
