Morrison (wm) Supermarkets Share Discussion Threads

[grafter] 05/7/2021 15:19

Must be Amazon's chance to make 'lolly -

[philanderer] 05/7/2021 13:26

Sreedhar Mahamkali, analyst at broker UBS, put it in a note to clients this morning: "CD&R will need to articulate a vision that is at least as supportive as [that of Fortress] to succeed in our view."

That is not to say that a Morrisons under the ownership of Fortress or any of the other buyers will not be under a degree of financial constraint.

Mr Mahamkali said he expected Morrisons to be carrying net debt of £6.4bn under Fortress, roughly double the current level, which would have implications for the wider supermarket sector.

He went on: "Should the transaction be completed, with Asda and Morrisons in private equity ownership, the competitive landscape is likely to be more constructive for Tesco and Sainsbury's and especially if the former two are constrained to invest for the future."

[jackdaw4243] 05/7/2021 12:04

Rip out all the freehold and then lease them back to Morrisons, same old stuff.

[philanderer] 05/7/2021 10:35

Neil Wilson, an analyst at Markets.com, said the offer "indicates investors believe there could be more juice to be squeezed from this particular bidding war".

"I think there could well be another offer or two and 280p might be seen before it's a knockout. We've talked fairly regularly about the amount of private equity money there is waiting for UK companies, which are cheap versus peers [overseas]."

[philanderer] 05/7/2021 09:41

Richard Hunter, head of markets at Interactive Investor, said: "This could lead to a three-way bidding war, with some speculation that following on from its business relationship with Morrisons, Amazon could even emerge from left field as a surprise last minute entrant.

ADVFN market report

[glavey] 05/7/2021 08:44

Once it's taken over of course they will mess with it. Don't things always come to that in the end.

[ric0chet] 05/7/2021 08:04

£7billion of property assets, you'd think 285p w/be a good starting point for negotiations.

[inv] 05/7/2021 07:27

Bid from Apollo will come at 285p later today or early tomorrow

[leadersoffice] 05/7/2021 07:11

Interesting. I'd expect someone to trump fortress. At the end of the day.... The board can charm who they want... shareholders will have the final say and not these asset managers. They promise the world but we hear that every time a great company gets swallowed up. The price needs to be higher. 2.70 or above. I've had to compromise from my three quid figure I mentioned the other day. The next will be BT being taken out for 2.60 !!

[williamcooper104] 05/7/2021 07:07

Of course I thought about taking a position on Friday thinking there would be more bidding - but didn't actually bother - doh ?

[chinese investor] 05/7/2021 07:07

Reputation intact !

[williamcooper104] 05/7/2021 06:52

Looks like it Ought to gap higher at the open by c10-20p

[cwa1] 05/7/2021 06:12

Possible bidding war?

For immediate release

5 July 2021

Statement regarding Wm Morrison Supermarkets plc ("Morrisons")

Apollo Global Management, Inc. (together with its subsidiaries, "Apollo") notes the recent press speculation in relation to Morrisons and confirms that it is, on behalf of certain investment funds managed by it, in the preliminary stages of evaluating a possible offer for Morrisons.

No approach has been made to the Board of Morrisons. There can be no certainty that any offer will be made, nor as to the terms on which any such offer might be made.

In accordance with Paragraph 4(c) of Appendix 7 of the Code, the Panel will announce the deadline by which Apollo must clarify its intentions in relation to Morrisons.

A further announcement will be made as appropriate.

[chinese investor] 05/7/2021 06:04

I sense an opening of 270p !

I'll put my reputation on it !

[sutton erection] 05/7/2021 05:59

"Critics drew attention to the track record of Morrisons’ new bidders.

Charles Koch and his late brother David sparked anger in 2010 after pumping more than £700,000 into a campaign to repeal California’s climate change laws.

The family’s foundation, which invests in property, has also funded pushes to evict tenants from their homes during the pandemic.

Meanwhile, CPPIB refused to back an agreement between shopping centre business Intu and its lenders to give it breathing room on its debt last year.

The fears for Morrisons come amid a wave of takeover attempts for British businesses by private equity firms."

[philanderer] 04/7/2021 23:21

Morrisons seeks to win City over to Fortress deal


Charm offensive to focus on pledges over pay, UK domicile and farmers amid prospect of rival offers

[philanderer] 04/7/2021 18:26

Morrisons shares expected to surge as private equity groups circle

At least three groups thought to be looking at grocer, which has accepted a takeover bid from Fortress

[soup de jour] 04/7/2021 18:13

The agreed price.

[marky1965] 04/7/2021 18:08

What price do you think it will open up in the morning

[soup de jour] 04/7/2021 17:21

When the stock market opens at 8am on Monday, all eyes will be on Morrisons’ share price as City insiders weigh up the likelihood of a bidding war for the suddenly in-demand supermarket chain.

Over the weekend, executives in at least three groups are thought to have been frantically Zooming financiers, as the battle to buy the Bradford-based supermarket chain intensified.

It emerged that that another American private equity player, Apollo Global Management, had hired Morgan Stanley with a view to mounting a takeover bid of its own.

Despite all the interested parties remaining tight-lipped on Sunday, CD&R, which has the former boss of Tesco, Sir Terry Leahy, as a senior adviser, was said by insiders to have “plenty more petrol in the tank”.

It believes that some on the Morrisons board would be more amenable to an increased offer. Under UK stock market rules the rival US investment firm has until 17 July to either make a firm offer or walk away.

It raises the prospect of a three-way battle for the company that until recently was seen as largely unloved by investors, although it remains to be seen whether the other interested groups will top the Fortress-led offer.

[arja] 04/7/2021 17:10

a fairly low risk buy at the moment as another offer seems quite likely