Morrison (wm) Supermarkets Share Discussion Threads

[albert3591] 19/10/2021 19:35

How long till the first shop sell offs,get Xmas over first then in January start the rumours

[darkelf1] 19/10/2021 18:44

Get over it

[nerdlinger] 19/10/2021 18:07

Looks like I am indeed factually incorrect, at least according to the Guardian who say the positive majority requirement referred to the number of shareholders not the number of shares which I find odd. I'm still disgruntled.

[goldpiguk] 19/10/2021 16:52

Hi Nerlinger,

You are factually incorrect. Morrisons needed over 75% support for the deal to go through. As expected it achieved this without any problem. Just .77% of the total votes were against the deal. It is very wrong to assume that those who did not vote were opposed to it.

Goldpig

Link below:

hxxps://www.retail-week.com/grocery/morrisons-shareholders-rubber-stamp-7bn-cdandr-takeover/7040804.article

Morrisons chair Andy Higginson said: “We thank shareholders for the strong support received at today’s meetings. We remain confident that CD&R will be a responsible, thoughtful and careful owner of Morrisons and we will now move forward with the remaining steps in the acquisition process.”

[pjleeds] 19/10/2021 15:59

What a sad end for a great company.

[nerdlinger] 19/10/2021 15:55

well they needed 51% to vote For and they got 52.75%. Skin of their teeth. We was robbed.

[tygwyg] 19/10/2021 15:40

Meeting should have been done by lunch... must have been some buffet or something else.

[nerdlinger] 19/10/2021 15:25

Is there a delay? All I know is that the vote is today sometime. If there is a delay it might be because they haven't had enough votes for a positive majority and they are trying to encourage more holders to vote For. My fingers are still crossed for Against anyway.

[tygwyg] 19/10/2021 14:51

What's the delay?

[goldpiguk] 11/10/2021 19:37

Hi Nerdlinger,

I do understand your sentiments, but I concluded the best outcome - to bring certainty to customers, shareholders, and staff, was to support the bid and I voted to accept the offer.

To be honest I think neither of our votes will make a jot of difference. According to the most recent annual accounts (Jan 31st 2021) just 210 shareholders control 89.51% of the company. The 33,077 private shareholders like you and me own just 3.63%. These figures will have changed a bit, but I doubt anything like enough to have an impact on the result.

I am sure many of the larger shareholders have already privately indicated they will support the bid and some will doubtless go on to snap up some of Morrisons freeholds, in future sale and leaseback agreements. For them a win, win!

I see this as a done deal, waiting for the rubber stamp vote, and I am now keen to reallocate the investment proceeds.

Goldpig

[nerdlinger] 11/10/2021 14:11

Restated my instruction to vote against to my broker via their webchat... I don't think they were just fobbing me off, got a reference number for it...

The voting procedure detailed at looks a bit complicated. You'd think they'd make it easier considering they need a positive majority as well as 75% of votes.

Fingers crossed that I'll still be a shareholder next week with a new stand-in BOD recruiting a more permanent BOD and a share price that isn't too awful.

[tygwyg] 07/10/2021 10:47

Silchester in a hurry to exit...Someone not in a hurry to declare. Maybe...

[tygwyg] 06/10/2021 20:22

15.x % to 8.x% Ahem

[tygwyg] 06/10/2021 20:16

Silchester in a hurry to exit.

[woodwards26] 06/10/2021 17:21

That one holder Tony Bramhall is also the key to making someone pay the right price once he feels it's time to sell.He's probably the best motor trader of the era

[nerdlinger] 05/10/2021 12:12

I will restate my intruction to vote against to my broker (iweb, using their chat facility) next week if there are no further developments. So far Columbia Threadneedle and M&G have publicly backed the deal according to the Mail ( ) but I've heard nothing from Silchester who might yet encourage CD&R to increase their bid again.

[darkelf1] 05/10/2021 08:25

Amazon wont come in now, and dont think they ever were going to. this will just hold until vote on 19th.
vote will go through

[praipus] 04/10/2021 19:20

Enterprise value (AKA Takeover value is £10,488.50 m) so share price at enterprise / take over value could be circa £4.35 per share?

[chopsy] 04/10/2021 16:01

So why did we drop to 286, I thought the bid was 287?

[albert3591] 04/10/2021 15:45

I still think Amazon will take a look.

[wba1] 04/10/2021 11:39

It may be worth CDR mopping up shares in the market if they can get them below the bid price and if they have arranged matters to avoid stamp duty (tricky but sometimes possible). Otherwise difficult to see why to buy.

[scotches] 04/10/2021 08:02

CD&R has said it still reserves the right to increase the amount of the offer price if a third party announces a firm intention to make an offer for Morrisons on or after the date of this announcement.

[marky1965] 04/10/2021 07:27

Why are people still buying these shares? Do they expect someone to come in with a higher bid

[jeffian] 03/10/2021 22:40

I expect so.

[chopsy] 03/10/2021 18:57

So are we expecting a 10p drop in share price tomorrow morning?