business news in context, analysis with attitude

NamNews reports that Safeway Plc has had no contact with the sole company that regulatory authorities have allowed to negotiate for an acquisition of the company.

Safeway Plc Chairman David Webster said that retail magnate “Philip Green in company with the trade buyers requested financial information more than two months ago. We've had absolutely no contact with him at all.”

Regulatory authorities are investigating under what circumstances bids by Tesco, Sainsbury, Wal-Mart and William Morrison Supermarkets should be allowed.
KC's View:
These kinds of financial chess games are sort of fun to watch. No doubt, Philip Green is watching the board, trying to figure out how low a bid he can make and still get the company before any of the competition is allowed to make a move…and whether, in the long term, he can make the company competitive with the bigger players and profitable on the bottom line.