Millions of shares in Safeway have been sold by employees of the UK retailer awaiting a ruling from the Office of Fair Trading on takeover bids.
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From checkout staff right through to top managers, staff have been rushing to cash in on shares that have risen from a low of 200p early this year to 316.5p late last week.
Safeway staff have sold in excess of 6.4m shares in the month since Morrisons made an agreed takeover bid for the group. There is concern that the share sales could lead to the share price peaking before final negotiations get underway with the eventual victor.
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