It all in all started on 9 January 2003: Morrisons made a £2.9m bid for Safeway, otherwise rivals in January the 14th such as Asda and Sainsburys make it a three-way takeoer battle, but the battle was not over it had just began because on the 20th of January, Billionaire Bhs owner Philip Green in addition shows an interest in Safeways and joins the bid, two days later January 22 Tesco launches Safeway bid. US buyout specialist Kohlberg Kravis Roberts also expresses interest. Although with such large competitors Morrisions stood no chance at all, but it was soon discovered no company was legible enough to acquire Safeways so on the 26th of September, Morrisons given go-ahead for bid after question by UK competition watchdogs, the finally on the 15th of celestial latitude after a long battle Morrisons makes fresh £3bn lead for Safeway, and the deal was sealed.
Reasons for Takeover:
Takeover: when a company buys over 50% of the shares of another company and becomes the controlling owner of it.
The tar lead area of Morrisons taking over Safeways was to secure the growth of its business in a sustain fit manner, while at the same term constantly improving the companys profitability. Morrisons planned on doing this by setting these following objectives:
Striving in enunciate to reach a leading position in enchanting markets
Focusing on securing a competitive share of the supermarket segments.
working(a) in order to improve the companys qualification and cut costs in operations.
Continuous growth by dint of selective acquisitions for as long as they are able to create shareholder value.
If these objectives were achieved apart from the competitive advantages enjoyed by...If you want to get a full essay, order it on our website: Ordercustompaper.com
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