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…
Aldi to create 2,000 jobs in £1.3bn UK expansion plan
Discount supermarket chain to open further 100 stores as it reports 10% rise in UK and Ireland salesAldi will create 2,000 jobs and open another 100 stores across the UK as part of a £1.3bn plan to take a larger share of the British grocery market.Aldi…
Tesco warns of Christmas panic buying if driver shortage persists
Supermarket fears pictures of empty food shelves will get ‘10 times worse’Tesco has warned government officials that empty supermarket shelves caused by a national shortage of HGV drivers could lead to panic buying across the UK in the lead up to Chris…
CO2 crisis could hit UK food stocks well before Christmas, says Iceland boss
Shortage of carbon dioxide – used in meat industry and for fizzy drinks – is result of record energy pricesUK food supplies will be under threat long before Christmas, and could start affecting stocks within days, if carbon dioxide shortages continue, …
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 …
Shop prices rise amid driver shortages and Brexit red tape
Retail data shows 0.4% month-on-month increase in August, with 0.6% rise in non-foodUK shop prices rose last month, according to the latest data from the British Retail Consortium, in a sign that driver shortages and the costs of Brexit-induced red tap…