Bid for Morrisons set to be decided by auction
8th Sep 2021 07:44
(Sharecast News) - Morrisons said on Wednesday that it is in talks with the Takeover Panel about launching an auction process for the supermarket chain after Fortress Investment Group and Clayton Dubilier & Rice failed to declare their bids final.
Read moreWeir, ITV set for demotion in next FTSE reshuffle
25th Aug 2021 12:41
(Sharecast News) - Broadcaster ITV and engineering firm Weir are set for a demotion from the FTSE 100 in the next reshuffle, while takeover targets Morrisons and Meggitt are in line for a promotion.
Read moreFortress 'considering options' on Morrisons after CD&R lifts bid
20th Aug 2021 07:30
(Sharecast News) - The consortium led by Fortress Investment Group said it was "considering its options" over Morrisons after its takeover offer was trumped by rival private equity group Clayton, Dubilier & Rice (CD&R).
Read moreGrocery sales falling more slowly in last four weeks
17th Aug 2021 09:43
(Sharecast News) - Grocery sales fell 4% year-on-year over the 12 weeks to 8 August, fresh data revealed on Tuesday, although sales were declining much more slowly in the shorter term, by 0.5% over the past four weeks.
Read moreGrocery sales falling more slowly in last four weeks
17th Aug 2021 09:43
(Sharecast News) - Grocery sales fell 4% year-on-year over the 12 weeks to 8 August, fresh data revealed on Tuesday, although sales were declining much more slowly in the shorter term, by 0.5% over the past four weeks.
Read moreSunday newspaper round-up: Meggitt, GlaxoSmithKline, Luxury goods
15th Aug 2021 17:08
(Sharecast News) - Ministers must be prepared to block a takeover of Meggitt if any bidder tries to buy it without giving binding commitments on investment and jobs, the FTSE 250 aerospace and defence manufacturer's chairman warned this weekend. Sir Nigel Rudd said that while "clearly, price is important", any new owner would need to give Meggitt and the government undertakings, including to keep the company's headquarters in Coventry and maintain R&D spending. - Sunday Times
Read moreCD&R given more time to make counter offer for Morrisons
9th Aug 2021 10:31
(Sharecast News) - US private equity firm Clayton, Dubilier & Rice (CD&R) has been given more time to put forward a takeover offer from UK supermarket chain Morrisons.
Read moreSunday newspaper round-up: SSE, Herd immunity, Virgin Galactic
8th Aug 2021 16:04
(Sharecast News) - The world's most powerful activist investor has secretly built a stake in energy giant SSE in a move that could lead to a £20billion takeover bid for the FTSE100-listed company. City sources said Elliott Management, which has been dubbed a 'corporate raider' for buying shares and forcing change at large companies, has recently bought a large shareholding in SSE which supplies around five million Britons with energy to their homes. - Financial Mail on Sunday
Read moreFortress lifts bid for Morrisons to £6.7bn
6th Aug 2021 11:52
(Sharecast News) - Supermarket chain Morrisons has agreed to an increased £6.7bn takeover offer from a consortium led by SoftBank-backed Fortress Group.
Read moreSunday newspaper round-up: Morrisons, Amazon, Easyjet
1st Aug 2021 12:33
(Sharecast News) - Private equity giant Clayton, Dubilier & Rice (CD&R) is poised to kick off a bidding war for Morrisons amid mounting opposition to the £6.3 billion offer on the table for the grocer from a consortium led by American buyout rival Fortress. CD&R is understood to have been lining up equity and debt financing for a counterbid that could come as soon as this week. - Sunday Times
Read moreFortress says CMA has not raised issues about Morrisons deal
30th Jul 2021 09:56
(Sharecast News) - Private equity firm Fortress, which is leading the consortium looking to buy Morrisons, said on Friday that the Competition and Markets Authority has not raised any issues with its proposed £6.3bn acquisition of the supermarket chain.
Read moreSingapore sovereign wealth fund joins Fortress-led bid for Morrisons
28th Jul 2021 14:34
(Sharecast News) - Singapore's sovereign wealth fund has joined the Fortress-led private equity consortium looking to buy supermarket chain Morrisons.
Read moreSunday newspaper round-up: New infections, Morrisons, Pfizer
25th Jul 2021 12:33
(Sharecast News) - The number of people infected with coronavirus has dropped for a fourth day, raising hopes that the pandemic may be levelling off. The UK recorded 31,795 new infections yesterday, a fall of 32 per cent from the 46,558 on Tuesday. The figure is down 42 per cent from last Saturday. "Great to see continued signs of Delta descent in the UK today," tweeted Dr Eric Topol, a US physician who is an international authority on the coronavirus. Some scientists cautioned that the data does not capture the impact of "freedom day" last Monday. But Paul Hunter, professor of medicine at the University of East Anglia, hailed it as "remarkable" and "absolutely good news". - Sunday Times
Read moreUK supermarkets fear panic-buying amid 'pingdemic' fiasco
22nd Jul 2021 11:02
(Sharecast News) - British supermarkets have called on the government to include the sector in its plan to exempt critical workers from isolation if they have been "pinged" by the NHS Covid test-and-trace app amid fears of food shortages on shop shelves.
Read moreFortress looks to take WM Morrisons private with ?6.2bn takeover bid
22nd Jul 2021 10:31
(Sharecast News) - The US private equity firm Fortress is looking to take British supermarket Morrisons private by 26 August if it can obtain shareholder backing for its £6.2bn takeover bid.
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