LONDON: Britain’s biggest supermarket operator Tesco plc stepped from the sidelines yesterday and said it was considering making an offer for Safeway plc, as major rivals circle the group.
Tesco said any offer would be a mix of cash and shares and would be set at a “compelling” level for Safeway shareholders. “It’s not a spoiling tactic, it is a serious move,” Tesco chief executive Terry Leahy said in an interview.
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