KKR Considers Six Continents, Drops Safeway Bid –

Kohlberg Kravis Roberts & Co. decided to throw in the towel in its bid for Safeway plc, at least for the time being, and the firm has already set its sights on a new target, reportedly fancying a possible bid for UK pubs and hotel business Six Continents.

In a recent statement, KKR stated it has “undertaken significant due diligence… and has decided for the time being not to progress its potential offer for Safeway any further, but will continue to monitor the situation and keep its position under review.” However, most are speculating that KKR will probably not re-enter the bidding.

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