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MRW Morrison (wm) Supermarkets Plc

0.00 (0.00%)
22 Feb 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Morrison (wm) Supermarkets Plc LSE:MRW London Ordinary Share GB0006043169 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 286.40 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
286.60 286.70
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 286.40 GBX

Morrison (wm) Supermarkets (MRW) Latest News

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Posted at 17/8/2022 07:34 by maxk
If anyone is still interested..

Aldi to overtake Morrisons as UK’s fourth largest supermarket

Cost of living crisis forces shoppers to switch grocery shops

Laura Onita
16 August 2022 • 6:54pm

Aldi is on track to overtake Morrisons as the country’s fourth biggest supermarket within weeks, buoyed by the cost of living crisis.

The German discounter increased its market share to 9.1pc in the three months to Aug 7, from 8.2pc a year ago, while Morrisons dropped from 10pc to 9.3pc, according to the latest figures from Kantar.

“In very short order we’ll be talking about a new Big Four: Tesco, Sainsbury’s, Asda and Aldi,” said Clive Black, a retail analyst at Shore Capital. “I think in the next one or two months, and there's no going back for a while.”

Aldi and fellow German discounter Lidl have been boosted by “unnatural footfall,” Mr Black said, as the cost of living crisis prompts many shoppers “who ordinarily would not be striving for deep value” to switch between grocery shops to keep costs down.
Posted at 11/10/2021 14:11 by nerdlinger
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.
Posted at 04/10/2021 19:20 by praipus
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?
Posted at 03/10/2021 18:57 by chopsy
So are we expecting a 10p drop in share price tomorrow morning?
Posted at 20/8/2021 16:14 by loganair
As things stand, a shareholder vote on CD&R’s 285 pence-a-share bid won’t happen until October. If Fortress opts to return with an even higher offer, as Morrisons’ 292 pence share price on Friday morning seems to suggest, the process could drag on even further, especially as CD&R might counter-bid again.

Handily, the UK’s Takeover Panel has an alternative to this sort of bid-a-thon, which might seem good for shareholders but is bad for businesses as managers spend months obsessing over M&A instead of running their companies. Calling on bidders to participate in an auction, as recently happened with Carlyle and Philip Morris International’s pursuit of Vectura, can break the cycle.

The panel can probably force the issue towards the end of September if both sides remain at loggerheads. Morrisons’ board could call for such a circuit-breaker sooner. While that might seem against its price-maximising interests, it could still be a good idea.

CD&R may be able to juice its returns by using an undivulged amount of preference shares. It might also grow Morrisons’ top line by parachuting ex-Tesco boss Terry Leahy in as chairman. But further bidding will naturally lower returns and increase the chances of buyer regret. There’s an argument for putting everyone out of their misery.
Posted at 11/8/2021 18:17 by loganair
How high will Morrisons’ share price go in the bidding war?

Morrisons’ shares: what’s the right price?

My original valuation of 260p-270p was based on a buyer only making small changes to Morrisons’ financial structure.

I admit I was hoping that whoever bought Morrisons wouldn’t need to sell off its freehold property and load the group up with debt — techniques that are often used by private equity to boost the returns they can generate.

However, I think that if the price tag rises any further, then buyers are likely to use more aggressive methods to make money from the deal. To estimate a possible winning price, I’ve revisited my numbers.

My sums suggest that if a buyer is happy to sell some of Morrisons’ freehold property and increase debt levels, then a bid of 300p could be justified. That’s a level Morrisons’ share price last hit in January 2012, when profits were much higher.
Posted at 10/8/2021 12:16 by jlondon
Tues, 10 Aug 2021

Morrisons 's share price 280.70p to Sell & 280.80p to Buy +0.68% denoted: Bid Situation [Advertised price @1:14pm]

Live dummy quote: 280.774p to Buy
Live dummy quote: 280.646p to Sell

Interesting that the share price has gone just a little OVER £2.80 vs £2.70+2p last bid with an extension to 20 Aug 2021. Kindly check as different brokers may have slightly different prices.
Posted at 21/6/2021 10:43 by goldpiguk

As a long term holder of MRW shares I am pleased to see the real value of the company starting to be reflected, with todays share price reaction to a potential bid. The rapid growth of Aldi/Lidl in the UK has kept UK supermarket shares depressed for the last few years - and MRW shares in particular have languished.

Given the share price is currently above the initial offer price, the market is confident higher bids will now emerge. I agree.

A takeover by Amazon might well be the best outcome for customers and employees and with Amazon moving into the physical retail market in the UK, MRW would be a natural addition to its portfolio.

Below is a link to the companies Amazon has acquired.

As a customer I would much prefer to see MRW taken over by Amazon, rather than by a private equity firm.

Posted at 21/6/2021 06:35 by chinese investor
U.S. buyout group Clayton, Dubilier & Rice LLC has chosen a soft target in approaching Wm Morrison Supermarkets Plc with a 5.5 billion pound ($7.6 billion) takeover proposal.

The U.K. grocer says the price is too low.

But its defences are weak and it could have a fight on its hands to stay independent.

The only surprise about CD&R’s 230 pence per share approach is that it has taken so long for a bidder to emerge.

Pandemic shopping habits combined with lack luster share price performances have made grocers alluring buys.

Morrison is the smallest of Britain’s so-called big four supermarkets and has all the ingredients to be an attractive private-equity target.

There’s almost 5.8 billion pounds of freehold property on Morrison’s books, compared with a market capitalization of 4.3 billion pounds on Friday.

The share price has underperformed the FTSE All Share Index over the past two years, even amid a turnaround under Chief Executive Officer David Potts.

Management has been criticized for receiving high pay despite the poor shareholder returns.

The premium being dangled is 29% above the shares’ last close (which was also roughly their three-month average price) and shareholders would keep a 5 pence dividend.

That’s not an offensive offer, but it’s a long way from a knockout.

A sweetened proposal with a juicier premium would put the board under real pressure.

CD&R won’t want to go hostile, but shareholders could demand that Chairman Andrew Higginson engage.

Given Morrison’s large freehold estate — which accounts for more than 80% of the supermarket’s stores and distribution centres — the traditional defence against a takeover would involve selling off property to raise cash.

A mini breakup, disposing of the group’s food manufacturing arm, is the other obvious tactic. Shareholders would get a big windfall from the proceeds and be left with a leaner grocer.

Although a private equity bidder may feel comfortable with such strategies, they probably wouldn’t work for Morrison as a public company.

The history of U.K. retail is littered with such sale-and-leaseback deals that have saddled companies with long rental commitments and too much debt.

Morrison already has net borrowings of 1.8 billion pounds excluding leases.

And exiting manufacturing could undermine the company’s pricing strategy:
Making its own quiches and filleting its own fish helps keep costs low — and value is central to its market positioning.

Shareholders may also be sceptical of any renewed promises by management to improve trading.

Although German discount grocers Aldi and Lidl were hurt by the pandemic — as consumers switched back to big weekly shops in traditional supermarkets — they are gaining traction once more.

The more realistic course for the board would be to fight for a high-priced deal rather than no deal.

That means preparing a list of alternative buyers who could get an auction going.

Morrison shares closed as high as 269 pence in August 2018.

An offer at 250 to 300 pence — at least a 40% premium — would be tempting.

At that level, a deal would cost at least 7.8 billion pounds including assumed net debt (but excluding leases), or 7 times this year’s expected 1.1 billion pounds of Ebitda.

A deal with CD&R might simply look too cozy.

Terry Leahy, the former chief executive officer of Tesco Plc, is a senior adviser to the firm. Higginson is Tesco’s former finance director, and Potts was the director responsible for Tesco’s stores.

Last year, two of Morrison’s non-executive directors quit on concerns about the closeness of Higginson to Potts.
Posted at 04/6/2021 10:38 by scotches
Shouldn't a master investor know that MRW is no longer in the FTSE 100 and it could be a while before returning on current share price performance.

Automatic entry is currently at a level of 5.7 billion. MRW (4.2b) would have to rise to about £2.37 on that basis. Otherwise re-entry will require others to be relegated and if the market is generally rising that could make the task harder.

The AGM should comment on the miserable share price performance. What is holding back the shares and how come SBRY is now touching 6 billion when MRW was higher cap back in September.

There might even be a case for share buybacks at current share price if it wasn't for all the debt which will have to be eliminated first.
Morrison (wm) Supermarkets share price data is direct from the London Stock Exchange

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