Takeover Lead News Today

£6.3 billion. the bid is from a new company backed by three private investment groups, including the american owner of majestic wine. last month the chain rejected an offer of £5.5 billion from a different firm — saying it significantly undervalued the business. our business correspondent katy austin has more. morrisons has nearly 500 stores and employs about 110,000 staff in the uk. the takeover offer that has been agreed is led by the us private equity group fortress. its bid is higher tha...

Morrisons has nearly 500 stores and employs about 110,000 staff in the uk. the takeover offer that has been agreed is led by the us private equity group fortress. its bid is higher than one by a different firm which morrisons rejected last month. 0ne stockbroker told me the supermarket is seen as an attractive prospect right now. the main issue is i think they will feel the price is too low and there is value to be had. the company is profitable its got very limited debt, it has got a good, popu...

So i think they will genuinely think they are getting a bargain. so, would a takeover lead to any noticeable changes? morrisons owns most of its stores. would fortress perhaps look to sell some and lease them back? well, fortress has said it doesnt anticipate doing that it. its understood this and other commitments, for example on pay, were significant factors in the supermarket�*s board recommending the offer. fortresses is really going out of its way to emphasise a different approach from pr...

Including the american owner of majestic wine. last month the chain rejected an offer of £5.5 billion from a different firm, saying it significantly undervalued the business. our business correspondent katy austin has more. morrisons has nearly 500 stores and employs about 110,000 staff in the uk. the takeover offer agreed is led by the us private equity group fortress investment group, its bid higher than one by a different firm which morrisons rejected last month to stop one stockbroker told ...