Simmons & Simmons’s role in the battle to acquire Safeway has come to an end after an announcement by Philip Green today (30 October) that the entrepreneur has pulled out of the takeover bid.

The news leaves Ashurst Morris Crisp client WM Morrison with a clear path to acquire Safeway – advised by Clifford Chance in the £3bn supermarket battle – after the other bidders, Sainsbury’s, Asda and Tesco were all blocked by the UK’s Competition Commission last month.