Article: Wal-Mart May Offer to Purchase British Discount Retailer Matalan.

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. ...

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