Co-op could buy Somerfield by end of week |
| Monday, 30 June 2008 | |||||||||
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The Co-operative Group could seal the deal to buy rival Somerfield as early as next week, according to the Sunday Express. The deal is worth up to £2bn and both sides have been working to forestall any competition objections from the Office of Fair Trading that may arise from the merger.
Buying Somerfield’s 900 stores will make the Co-op the UK’s fifth largest grocery with an 8% market share. However, the Co-op is expected to sell some larger stores on to rivals including Asda and Morrisons.
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Comments (2)
Sarah
said:
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Do Somerfield care t... Do Somerfield care that their staff go home each night with the worry of not knowing whether or not they have a future with the forthcoming takeover. Come on Somerfield your loyal, hardworking staff deserve better. Don't forget you guys at the top who think you are untouchable, when you have given your staff nervous breakdowns with the worry, it will be you who switch off the lights on your way out. Sarah |
sparkybhoy
said:
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I am currently an em... I am currently an employee of Somerfield and the uncertainty of the future is beginning to annoy me. For the last year we have been patiently awaiting an announcement regarding the completion of the takeover. Yesterday I heard that Co-Op staff have been sat down and told, the deal is done and your jobs are safe, yet we have been told nothing and are left hanging like a worm heading to the fishing grounds. What kind of world is it when you dony know from one day to the next if you are going to have a job or not. I don't know!!! |
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