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Investegate announcements from Project Berry Topco, Expected Intention to Float

A US private equity firm has won an auction for British supermarket group WM Morrison Supermarket PLC, the UK’s Takeover Panel which oversees merger and acquisition deals said on Saturday. The panel said that Clayton Dubilier & Rice LLC (CD&R) bid ￡2.87 per share, beating private equity giant Fortress Investment Group, which bid ￡2.86, the panel announced in a short statement. The winning bid values the company at about ￡7.1 billion (US$9.61 billion), Morrisons said. Shareholders would have the final say on whether to accept the offer on Oct. 19. Based in Bradford, England, Mor...

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Behind the warehouse lockout in Australia: Coles and the corporate restructuring offensive Australian supermarket and retail chain, the Coles Group, last week “indefinitely” extended the three-month lockout of workers at its Smeaton Grange warehouse in southwestern Sydney. This is part of an attempt by Coles, one of the country’s largest companies and employers, to satisfy the dictates of the global financial markets, which are demanding higher investment returns and share prices. The most immediate objective of the extension of the lockout is to starve workers into accepting a sell-out...

Retailers write to PM over pandemic-fuelled increase in store violence Print 5th February 2021 More than 65 leading retailers and industry bodies have written to prime minister Boris Johnson calling on him to take urgent action to tackle violence and abuse towards retail workers. The letter calls for the government “to treat the issue with the seriousness it deserves and improve protection for our employees by creating a new statutory offence of assaulting, threatening or abusing a retail worker”. This legislation would toughen sentences for those who are violent or abusive towards shopw...