UK: Sainsbury's considers making an offer for Safeway, reports Q3 sales
UK supermarket chain Sainsbury's is considering making an offer for rival Safeway, following Morrison's surprise bid for the chain last week. Sainsbury's said it would make the offer in approximately equal amounts of cash and Sainsbury's shares, which, based on Sainsbury's closing share price on Friday 10 January 2003, would result in a value per Safeway share in excess of 300p (US$4.8).
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