Morrison (wm) Supermarkets Share Discussion Threads

[gregmorg] 19/6/2021 23:02

Very early days here!

[johncasey] 19/6/2021 22:46

bound to be rejected unless you are bcn directors

[cantrememberthis2] 19/6/2021 22:38

Oh dear rejected

[philanderer] 19/6/2021 21:11

A person following the situation closely said the leak of CD&R’s interest had significantly complicated the prospects of a deal. CD&R is working with Goldman Sachs on its bid, another person involved said.

[gregmorg] 19/6/2021 21:02

That’s very generous from a bunch of guys looking like cheapskates ! ! !

[philanderer] 19/6/2021 20:40

The U.S. firm has until July 17 to make a formal bid under British takeover rules, CD&R said in a statement. Morrison shareholders would receive the second-half dividend of 5.11 a share under CD&R’s plan


Bloomberg

[gregmorg] 19/6/2021 20:32

Goodness me what venom builtup on what ! So we have a major UK supermarket with quite a track record, if looked at sensibly and it’s just been put into play!
I have been very frustrated by the events of the last 18 months but have held on -probably thru inertia , fear or who knows what!
Anyway I have to admit if an exit share price starts with a 3 then greed will overcome great admiration for the management team or indeed anything else! That is until it happens!

[poseidon adventure] 19/6/2021 20:31

Amazon are preparing a £4.90 cash bid.

[rolo7] 19/6/2021 20:21

Leases on the stores is some on the debt

[johnwise] 19/6/2021 20:16

"Are these so called backers of British farmers also going to cease selling 'EU' and Irish beef. Most of these countries have animal welfare standards well below those of the UK"

Tesco and Morrisons to reject Australian meat in major boost for British farmers

TESCO and Morrisons have pledged not to sell Australian meat in their stores, even if a new trade deal makes it cheaper. The supermarkets will instead continue to support British beef farmers.

[johnwise] 19/6/2021 19:48

Rubbish management, worst service, only fools queue to spend money, too many empty shelves of essential items, usual excuse "delivery not arrived this morning " Also to mutch Lefty virtue signalling nonsense from head office management.
Thank goodness we have a Tesco not far away

Sell how many shops to pay off the £3+ billion debt..?

[chinese investor] 19/6/2021 19:34

May I humbly suggest 8:01 Monday !

Chinese Investor (MRW) 19 Aug 2020 - 09:54:42
Good to see 200p again !

[johnwise] 19/6/2021 19:30

They should never have been paying a dividend when carrying so match debt


Net debt

Morrison(Wm.)Supermarkets PLC Preliminary Results

Net debt GBP3,169m (2019/20: GBP2,458m), or GBP1,798m pre-IFRS 16
(2019/20: GBP1,082m)

[nerdlinger] 19/6/2021 19:24

grauniad says Morries rejected bid of 230p/share on Thursday but CD&R still considering a possible cash offer

[nerdlinger] 19/6/2021 19:03

bid rejected for undervaluing, according to BBC R4 news just now

[chinese investor] 19/6/2021 18:43

This is one of the most high profile of many bids for UK companies over the past year.

The flurry of takeover activity is being fuelled by the relatively low share prices of businesses here compared to abroad and cheap money because of low interest rates.

American company CD&R is one of the biggest takeover firms in the world and when it comes to UK retail it has form.

It has previously made investments in the discount chain of shops B&M, from which it made more than £1bn - and the petrol station operator MFG.

Morrisons - with its £1bn property portfolio, most of which it owns - and its 10% of the grocery market - is an attractive proposition.

Not least because one of CD&R's senior advisors is the former Tesco boss Sir Terry Leahy who used to work with the current Morrisons management - Dave Potts and Andy Higginson.

No price tag has yet been put on the business - that'll come in the coming weeks if the offer is made official.

There has been speculation about bids for Morrisons in the past from Amazon, which sells the supermarkets products on its site.

Perhaps this news might flush more bids for the company out of the woodwork.

[bend1pa] 19/6/2021 18:13

"Buyout giant CD&R weighs £5bn takeover of supermarket chain Morrisons".

Laughable BS!

[chinese investor] 19/6/2021 18:05

They'll be up 40p first thing Monday morning !

[chinese investor] 19/6/2021 18:03

Will AMAZON also make a BID ?

[m_kerr] 19/6/2021 18:02

'the past is the past, the longer the share price languishes, the more it's a likely an activist will come in and demand changes to get the price up. the asda takeover has highlighted how it is ideally suited to being bought out by a private equity company, and if they don't sort it out some of them may be out of a job soon.'

shame i didn't act upon this !

[justiceforthemany] 19/6/2021 15:56

Yes johncasey the typical takeover premium is at least 30%.

[justiceforthemany] 19/6/2021 15:55

A large 5.7% short position needs closing Monday whatever happens. Board needs to hold out for more. Blackrock burnt here as 2.3% short position. Foolish as takeover was always probable.

[justiceforthemany] 19/6/2021 15:46

Massive short squeeze coming.
£6Bn or 250p minimum.
£5Bn is pathetic.
Expect Amazon and others to join in.
30% premium from here gets us to 240p

Final price likely 250p+ possibly as much as 300p given freehold property portfolio and balance sheet strength

[ygor705] 19/6/2021 14:58

No wonder Bank of America changed its recommendation midweek. Looks very suspicious to me.