Morrison (wm) Supermarkets Share Discussion Threads

[jlondon] 07/8/2021 21:01

Daily Telegraph has just published a new article on Morissons plc takeover.
Its via subscription but 2-3 paras are free to read.
It came out at 7pm, Sat, 7 Aug 2021. Its on the other MRW forum.
Its about Terry Leahry of Tesco fame.

[actomox] 07/8/2021 12:57

johnwise: what the hell has your post to do with Morrisons? get over to Trump land or join the Flat earth Society.

[darkelf1] 07/8/2021 09:25

C Dand R have until 20th i think now to make thier pitch. thats a week before the new vote date of 27th. which fits the same type of timetable that was in place.

[leadersoffice] 06/8/2021 22:34

It's not a done deal not by any means. £2.85 minimum and then we can start talking about sealing a deal and I even think £2.85 is a steal. I'm hoping 2.72 will be trumped at 7.03 on Monday 9th August.

[johnwise] 06/8/2021 22:20

This is only the start. The cost of Climate extremist Boris and Carrie's green plans (cars, boilers, hitting emission targets etc) will cost us so so SO much!! Not only that the country will be in darkness half the time!


Gas and electric bills for 15 MILLION households will soar by a record £139 from October due to rise in wholesale energy prices - after regulator Ofgem raised price cap on tariffs



The evidence - global warming isn't happening..

Video: The truth about global warming


VIDEO: A Dearth of Carbon Dr. Patrick Moore

[darkelf1] 06/8/2021 21:49

well...that shut me up..

[cwa1] 06/8/2021 16:42

Extension request:-

[latics2] 06/8/2021 14:28

kennewil....ditto.

[kennewil] 06/8/2021 14:18

This long termer, since safeway takeover, if not before, has sold out. Seems a toss up between slightly higher bid or falling back to tabled offer.

[loganair] 06/8/2021 13:55

Softbank-owned Fortress said its raised offer comprises 270 pence per Morrisons share plus a 2 pence a share special dividend and was aimed at warding off its rival suitor.


Shares in Morrisons were up 2.2% at 278.15 pence by 1217 GMT - a premium to the latest offer - on hopes that CD&R will respond. CD&R declined to comment.


Analysts have speculated that Amazon, which has a partnership deal with Morrisons, could still enter the fray.

[tygwyg] 06/8/2021 13:52

His Twitter is still silent... embargo 'til the real news drops?

[chinese investor] 06/8/2021 13:46

RNS at 17:10 !

[tygwyg] 06/8/2021 13:37

I don't think Tony Hoggett joined Amazon just to run a string of mini marts. CD&R&A?

[nerdlinger] 06/8/2021 13:11

re reset clock I assumed it would be, that would be fair, I suppose a recognised bidder might have to request an extension to consider the revised offer. If this wasn't the case then bidders would always save their real bids until the last few days of the deadline. This isn't Sotheby's. Ignore the journos, some of them were saying CD&Rs original deadline still stood for days after it was extended for the initial Fortress offer. Anyway, should find out officially soon.

From RNS:

...The Morrisons Directors note that the Panel Executive has ruled that, unless the Panel Executive consents otherwise, CD&R must, by 5.00 p.m. on 9 August 2021, either announce a firm intention to make an offer for Morrisons under Rule 2.7 of the Takeover Code or announce that it does not intend to make an offer for Morrisons...

...The expected timetable of principal events for the implementation of the Scheme (as amended to reflect the terms of the Increased Fortress Offer) remains as set out on page 15 of the Scheme Document. If any of the dates or times for the expected implementation of the Scheme change, the revised dates or times will be notified by issuing an announcement through a Regulatory Information Service...

[loganair] 06/8/2021 12:52

I would say that the new offer of 272p has been set at a price that the major shareholders have already agreed to and therefore is basically a done deal.

[loganair] 06/8/2021 12:46

The bidder said the offer represents at 52% premium on the group's 178p per share price at the close before the first takeover proposal sparked surge in its valuation.

The company said in a stock market statement: "Morrisons directors believe that the increased Fortress offer is in the best interests of Morrisons shareholders as a whole, and accordingly unanimously recommend that Morrisons shareholders vote in favour of the resolutions required to implement the increased Fortress offer."

The UK takeover regulator has given CD&R a deadline of Monday 9 August to either place its own firm bid for the retailer or walk away.

[kingalf] 06/8/2021 12:21

Nerdlinger, I don't think this does reset the clock, after all, it's a revised offer from the same party. 16th August still stands and Cd&r have until 5.00 pm on Monday to make an offer.

[loganair] 06/8/2021 12:11

BBC - Supermarket chain Morrisons says it has agreed to a revised takeover offer worth £6.7bn, up from £6.3bn, from a private equity consortium led by Fortress Investment Group.

The increased offer, worth 272p a share, comes after some key investors rejected a previous 254p a share offer.

[tygwyg] 06/8/2021 12:08

No clocks reset... yet.

[nerdlinger] 06/8/2021 11:10

Unconvincing bid, more to come from Fortress I think. That resets the clock as well so this could take ages yet and we're back in the FTSE100 in 4 weeks.

[tygwyg] 06/8/2021 10:31

285 in sight... 3xx still on. Paging Market Bidco

[tygwyg] 06/8/2021 10:10

They blinked first!