EU/UK/USA: KKR's Safeway bid must seek EU approval - report
A bid for Safeway by US investment company Kohlberg Kravis Roberts (KKR) would be subject to approval by EU competition regulators rather than the UK's office of fair trading, according to a report in a UK newspaper. This would put KKR at a disadvantage in the bidding battle for the UK supermarket chain because KKR would only be able to make a submission to the European Commission once it had made a formal, binding bid for Safeway rather than submit an indicative offer, the Independent reports.
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