Deadline day for Safeway suitor

Today is the first deadline for Safeway shareholders to accept the£2.2 billion offer for the business from suitor Morrisons.

However, the number of acceptances is expected to be low because of the chance of a higher offer from one of the other six potential bidders.

Morrisons could decide to increase its offer - the only one on the table at present - but if its bid is referred by the Office of Fair Trading to the Competition Commission, its offer will lapse.

The OFT is due to report on Morrisons' bid on March 19.

- On Monday, the OFT announced it will conduct a review of the Supermarkets Code of Practice, which governs relationships with suppliers.