CD&R has made fine-sounding pledges but they don’t stop this being yet another debt-fuelled buyoutThe auction for Morrisons wasn’t worth the wait, but the mission to cast Clayton Dubilier & Rice as a kindly, far-sighted owner of the UK’s fourth…
Sainsbury’s shares rise as it is tipped as next takeover target
US company Fortress, which missed out on Morrisons, has said it is still eager to buy a UK firmSainsbury’s was the top riser on the FTSE 100 on Monday as investors bet that the supermarket chain could be the next target for a takeover after the US firm…
Labour and Lib Dems urge Morrisons owners to protect workers
Politicians say they will ensure the chain is not heaped with debt and stripped of assets after £7.1bn takeoverOpposition parties have urged Morrisons’ incoming private equity owners to protect workers and ensure that the supermarket is not heaped with…
Morrisons sale: US firm CD&R wins £7bn auction for supermarket
Private equity business narrowly beats rival Fortress with offer that rises to £9.97bn when including debtThe US private equity firm Clayton, Dubilier & Rice (CD&R) is set to become the new owner of Morrisons after the grocer’s board backed its…
As Morrisons auction looms, pension deals ought to have been nailed down | Nils Pratley
CD&R stepped up to the mark two weeks ago, but Fortress’s foot-dragging looks poor ahead of SaturdayThe structure for Saturday’s auction for Morrisons is technically flawless, as argued in this column on Wednesday, but there is still a problem: onl…
Morrisons profit drops as firm warns over supply chain crisis
Supermarket flags up rising prices as company prepares auction to choose between rival private equity biddersMorrisons has reported a drop in profits as it warned of rising costs in its supply chain because of coronavirus pandemic disruption and a shor…
Morrisons in talks with suitors and regulator to begin takeover auction
Supermarket works on basis that offers from US private equity firms CD&R and Fortress are not finalMorrisons has announced it is in talks with both of its US private equity suitors, as well as the UK’s Takeover Panel, which regulates acquisition ac…
Bidders’ enthusiasm for Morrisons unlikely to be dampened by results
US rivals remain keen, but with profits under pressure, some wonder if the supermarket is really worth a £7bn offerMorrisons’ rollercoaster ride continues this week as the Bradford-based supermarket updates the market, and its suitors, on how business …
Morrisons and Meggitt tipped for FTSE 100 return as shares surge
Takeover targets expected to briefly re-enter blue-chip index while ITV and Weir Group face demotionThe takeover targets Morrisons and Meggitt look set for a brief return to the FTSE 100 index of blue-chip UK companies, after their share prices were bo…
Sainsbury’s could be next in line for private equity interest
With Morrisons already in a bidding war, UK supermarkets are attracting returns-hungry investorsSainsbury’s could be on the shopping list of private equity outfits as the race to buy Morrisons highlights the attractiveness of the big supermarket chains…