Morrisons online sales continue to soar despite lockdown easing May 11, 2021 Morrisons said online sales have continued to soar this year despite the lifting of lockdown restrictions. In an update this morning the supermarket chain said online sales were up 113 per cent in the 14 weeks ended 9 May compared to the same period last year. Internet sales helped boost group like-for-like sales excluding fuel [...]
Supermarket sweep: The fight for Morrisons heats up with Fortress increasing offer to £6.7bn August 6, 2021 The battle for control of one of the UK’s biggest supermarkets, Morrisons, has stepped up a notch today, with Fortress increasing its bid to £6.7bn. Fortress increased its offer to £6.7bn, or 272p per share when a 2p per share dividend is included, from £6.3bn earlier. The private equity consortium said said it “notes the [...]
Just Eat and ITV set to be booted from FTSE 100, while Morrisons and Meggitt could be added August 25, 2021 Takeaway delivery service company Just Eat Takeaway.com is set to be booted from the FTSE 100 after the index’s watchdog ruled it was a Dutch rather than a British company. FTSE Russell, the global index provider that recommends which listed companies should join or be removed from London’s premier index, ruled that Just Eat should [...]
Bidding war for Morrisons heats up as US private equity giant makes £7bn move August 20, 2021 A fresh £7bn bid for supermarket chain Morrisons has been put forward by US private equity firm Clayton, Dubilier & Rice (CD&R). The deal has been unanimously accepted by the board of the grocer and directors have said shareholders should vote in favour of the takeover at a meeting due in early October. It means [...]
Morrisons: Singapore’s wealth fund GIC joins Fortress’ £6.3bn takeover deal July 28, 2021 In an unexpected turn of events, Singapore’s sovereign wealth fund joined this morning forces with the private equity-led consortium seeking to buy Morrisons in £6.3bn deal. Bosses at the supermarket giant agreed the takeover move, led by institutional investor Fortress, earlier this month. However, last night, Morrison’s largest shareholder, Silchester International, said it will not [...]
Morrisons’ biggest shareholder refuses to back £6.3bn Fortress-led takeover bid July 27, 2021 Morrisons’ largest shareholder has announced “it is not inclined to support” a £6.3bn takeover bid by a consortium led by SoftBank-owned Fortress. Silchester International Investors, which owns 15.1 per cent of Morrisons, said in a statement on Tuesday evening that “there is little in the recommended offer that could not be achieved by Morrison as [...]
Former Post Office boss quits Morrisons and Dunelm boards April 26, 2021 Former Post Office boss Paula Vennells has this morning stepped down from her roles on the boards of Morrisons and Dunelm after one of the biggest miscarriages of justice in recent history. In statements issued by the two firms, they confirmed she would step down with immediate effect. Andrew Higginson, Morrisons chairman, said: “Paula has [...]
Morrisons push ahead with plans to open automated grocery store as ‘pingdemic’ continues to hit supermarkets July 19, 2021 Morrisons are said to be close to unveiling an unmanned pilot store to the public “within months”, as they look to follow Amazon’s lead in modernising the approach to grocery shopping. The store will rely on shoppers to scan their smartphones upon entry before having digital cameras follow their every step in store to check [...]
Major investor LGIM calls for more detail on Morrisons property portfolio before voting on takeover July 5, 2021 Legal & General Investment Management (LGIM), one of Morrisons’ biggest shareholders, has called for more detail on Morrisons’ property portfolio before it votes on a private equity takeover bid. Over the weekend Morrisons accepted a £6.3bn takeover offer by a consortium of funds led by private equity firm Fortress. But this morning rival Apollo said [...]
Morrisons accepts £6.3bn takeover bid from SoftBank-backed Fortress July 3, 2021 Morrisons has accepted a £6.3bn takeover bid from a new group of funds led by affiliates of SoftBank-backed Fortress, the firm announced this morning. Morrisons shareholders will receive 254p a share, comprising 252p in cash and a 2p cash dividend. Read more: Top Morrisons investor says CD&R should up its bid to £6.5bn The group is [...]