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Article: Wal-Mart May Offer to Purchase British Discount Retailer Matalan.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- June 15, 2003
CopyrightCOPYRIGHT 2003 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Meera Selva, Sunday Business, London Knight Ridder/Tribune Business News
Jun. 15--Wal-Mart, owner of the Asda supermarket chain, is considering making a UKpound 1 billion (E1.41 billion, $1.65 billion) offer for Matalan, the discount retail chain. The two companies have held informal, preliminary talks about the possibility of an agreed takeover that would give Asda another outlet for its highly successful George range of clothes.
But Wal-Mart/Asda is unlikely to make a bid until the UK Competition Commission makes a decision on Safeway, which Britain's main retailers including Wal-Mart, Tesco, J Sainsbury and Wm Morrison are all trying to buy. ...