The end to the William Morrison-Safeway takeover saga is expected to be finally announced possibly as early as today, according to the Financial Times, with an agreed cash and shares deal.
There is a possibility the timing of the £2.98bn deal could slip until tomorrow, or even later, but good progress is said to have been made. The Daily Telegraph says several people close to the deal cautioned negotiations still had some way to go.
A William Morrison takeover will double the size of the Bradford-based supermarket chain. The latest offer is expected to have a higher cash element to the original deal announced on January 9.
References: Financial Times 15/12/03 page 22 (Lex), page 23, page 26 (The Weekend Papers), The Guardian 15/12/03 page 21, The Times (Broadsheet) 15/12/03 page 21, page 22 (Need to know), The Daily Telegraph 15/12
