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.

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.

For other news on the Safeway battle, click here.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.