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Safeway suitors line up

Holders of Safeway bonds are waiting with bated breath for further developments in the increasingly frenzied bidding war to buy the company. Who will have the edge in the forthcoming scramble?

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The bidding stampede for the UK’s fourth largest supermarket operator opened with an all-share offer of around £2.5 billion from Safeway’s smaller rival William Morrison.

Since then, five other interested parties have joined the fray: Asda, owned by the world’s largest retailer Wal-Mart; Tesco, the UK’s leading retailer; Sainsbury’s, second in the UK retail market; Kohlberg Kravis Roberts (KKR), a

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