Somerfield PLC and Kwik Save Group PLC announced the merger of the two companies in 1998.

Somerfield PLC and Kwik Save Group PLC announced the merger of the two companies in 1998. Asda was taken over by the American Wal-Mart chain in 1999 and Morrison completed the takeover of Safeway in March 2004. Two years later the market shares of the top six chains were Tesco 30.6%, Asda 16.3%, Sainsbury 16.0%, Morrison 11.3%, Somerfield 4.0%, and Waitrose 3.7% (source: TNS Worldpanel, March 2006). How well do the financial data in the case study foreshadow these outcomes?