U.K. Grocer Morrison Wins with UKpound 632 Million Cash Sweetener for Safeway.
By Fiona Walsh, Evening Standard, London Knight Ridder/Tribune Business News
Dec. 15--One of the City's longest and hardest-fought takeover battles moved towards its conclusion today as Wm Morrison launched a new, agreed UKpound 3 billion bid for Safeway, Britain's fourth-largest supermarkets chain.
Worth 283 pence a share, against the original terms of 277.5 pence when the all-share offer was first launched a year ago, the new bid includes a cash sweetener.
Terms are one new share plus 60 pence cash, and the cash element of the deal totals
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