Safeway shares fell 9% today after the UK government ordered the Competition Commission to look into all of the four supermarket chains in the bidding fray. These includes Tesco, Sainsbury, ASDA and Morrison Supermarkets.
Britain threw cold water on a bidding war for the country's fourth-biggest supermarket chain Safeway Plc on Wednesday, ordering all but one of the five bidders to undergo a competition inquiry.
Philip Green, who owns department storesBHS and the Arcadia group, but no supermarkets, was the only bidder to escape a competition probe.
The top four grocery chains already control 70% of the £100 billion sterling a year market, but their options for further expansion are limited by tough building laws. Safeway has 480 stores and a 10% market share.
The competition review is due to be completed by August 12.
