Essay about Morrisons Take over Safeway - 264 Words.
Morrisons cleared for Safeway takeover. 28-Sep-2003 - Last updated on 18-Jul-2008 at 17:09 GMT. Related tags: Morrisons, Asda, Safeway. As expected, Morrisons is the only retailer allowed to bid for the Safeway chain, with rival offers from Tesco, Sainsbury and Asda all blocked by the UK government. But Morrisons' bid is unlikely to be as high as it was in January, perhaps forcing Safeway's.
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The smallest of the big four UK supermarkets, Morrisons was concentrated in the North of the UK until 2004 when a takeover of Safeways saw more stores opened in the south. First opened in 1899 in.
In 2004, Morrisons conducted a takeover of Safeway which propelled the business becoming the fourth largest supermarket in the UK with currently over 400 stores and 132,000 employees across the business. The Morrison family currently owns around 15.5% of the company.
Morrisons expected to boost sales by 21% at Safeway’s larger stores and 10% at its medium-sized ones, which were to be converted to the Wm Morrison brand. The Safeway label was to be retained for the 138 smaller stores, although Sir Ken indicated that these could be sold. This sale has since taken place. In the event, after difficulties in the first few years following the merger, recent.
Morrisons is the 4th largest chain of supermarkets in the United Kingdom, headquartered in Bradford, West Yorkshire in England. Founded in 1899 by William Morrison, hence the abbreviation Wm Morrison. With the takeover of Safeway in that year, this company has grown significantly in the south of England and Scotland. Since May 2014, the company now has 515 superstores and 113 local shops.
This essay will evaluate the income statement and balance sheet particularly by analyzing the case of Morrison’s including the acquisition of Safeway, then I will demonstrate my recommendations in the conclusion. There exists several strengths obtained by using the income statement within the company. Firstly, either the trend of sales turnover or the profits during the period can perform.