SAINSBURY, the second largest British group for food distribution, is planning to make a counter-bid of £3.2 billion in cash and in shares over its rival SAFEWAY (turnover £9.4 million in 2002). The bid would correspond to over 300 pence per share. Last week, WILLIAM MORRISON SUPERMARKETS had presented a public exchange bid of £2.9 billion (277.5 pence per share) for acquisition of SAFEWAY. The American company WAL-MART may join in the battle via its ASDA chain of stores.