Tag: Morrisons

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Morrisons profit drops as firm warns over supply chain crisis

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Morrisons has reported a drop in profits as it warned of rising costs in its supply chain because of coronavirus pandemic disruption and a shortage of HGV drivers, as the UK chain prepares for an auction to decide bet...

‘Proof is in the pudding’: Morrisons’ hometown less than sold on takeover

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Among the traders in at the bustling Oastler marketin Bradford, Sir Ken Morrison is remembered as an “icon”. He took over his father’s egg and butter stall at the city’s former Rawson market in 1952 and over the next ...

Morrisons pension trustees raise concerns over £7bn takeover plan

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Trustees of Morrisons’ pension schemes have broken cover to warn that a £7bn private equity takeover threatens to “materially weaken” their financial position, and demanded additional security over some of the superma...

Morrisons shares driven up as investors bet on bidding war

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Morrisons shares have surged again as investors bet the £7bn price tag on the company could go higher still amid a private equity bidding war for control. They closed up 4% at 291p, 6p more than the 285p a share offer...

Morrisons strikes £7bn takeover deal with US private equity group

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Morrisons has agreed a £7bn takeover by the US private equity group Clayton, Dubilier & Rice in the latest round in a fierce fight for control of the country’s fourth largest supermarket chain. The Bradford-based ...

Morrisons suitor CD&R given more time to make rival offer

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The bidding war for Morrisons has taken another twist after one of its suitors, the US private equity group Clayton, Dubilier & Rice, was given more time to consider a rival offer. The UK’s Takeover Panel, which r...

Morrisons’ biggest shareholder ‘inclined’ not to back takeover bid

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A planned £6.3bn takeover of Morrisons could be at risk after the supermarket’s largest shareholder said they were likely to turn it down. Silchester Asset Management, which owns a 15% stake in the UK’s fourth largest...

Morrisons writes to reassure anxious UK farmers over US takeover

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Morrisons has written to the UK farmers whose produce fills its supermarket shelves to reassure them that the takeover offer led by US investment firm Fortress will protect the character of the business and its relati...

Morrisons talks up ‘responsible’ buyers – but how sincere is it?

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How much weight does the board of Morrisons truly attach to selling the company only to a “responsible” owner? A lot, one assumes, because the chairman, Andrew Higginson, used three of his four paragraphs of commentar...

Morrisons takeover: Apollo private equity group says it is considering bid

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The private equity group Apollo has joined the battle to buy Morrisons after it said it was considering making an offer for the UK supermarket chain that could trump an existing £6.3bn bid for the supermarket by rival...

Morrisons takeover saga could bring lots more twists before it’s in the bag

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The board of Morrisons has obeyed the first rule of takeover situations: generate competitive tension. Two bidders are better than one on that score, so the surprise offer from an odd-looking consortium led by the US ...

Morrisons agrees £6.3bn takeover bid from investment group

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Morrisons has agreed a takeover offer from Fortress Investment Group, which values Britain’s fourth largest supermarket operator at £6.3bn. The offer from Fortress, which is backed by Canada Pension Plan Investment Bo...

There was no argument inside national cabinet about Morrison’s AstraZeneca advice because he didn’t flag it

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Before the public brawling on Wednesday there was the relative calm of Monday night when leaders gathered virtually for an emergency national cabinet meeting. Scott Morrison dialled in from the Lodge where he’s been i...

Morrisons shouldn’t capitulate in another depressing takeover saga

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The stock market is brutal and moves quickly to the main question. If 230p-a-share is not enough to persuade the directors of Morrisons to roll over and accept private equity’s money, what is? The working assumption i...

Morrisons shares leap more than 30% as it rejects £5.5bn offer

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Shares in Morrisons surged more than 30% on Monday, after the supermarket giant rebuffed a £5.5bn takeover offer from a US private equity firm, potentially sparking a bidding war. Investor demand was spurred by news o...

Morrisons takeover approach sparks jobs fears – business live

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