Morrisons takeover agreed

JP1

Member

Livestock Farmer

Location

Bury St Edmunds, Suffolk

• Oct 2, 2021

• #1

US Venture capitalists deal agreed

Clayton, Dubilier & Rice (C D & R)take over the Morrisons business

 

capfits

Member

• Oct 2, 2021

• #2

JP1 said:

US Venture capitalists deal agreed

Clayton, Dubilier & Rice (C D & R)take over the Morrisons business

Click to expand...

Assume the auction was called off?

Sold out mid summer, so did not squeeze the pips on it.
Suspect they have over payed with the current situation and one rather fears for the chain and many staff in the 5-10 year time period.

 

R

Roger Perry

Member

Location

Monte Vista 81144, Southern Colorado.

• Oct 2, 2021

• #3

JP1 said:

US Venture capitalists deal agreed

Clayton, Dubilier & Rice (C D & R)take over the Morrisons business

Click to expand...

Was there no interest from any UK buyers..?
I realize its' all about the money but it would have been good to keep the old company in domestic hands, those wall street guys play a rough game, maybe just bought it for the real estate.

 

Oldmacdonald

Member

Mixed Farmer

Location

Scotland

• Oct 2, 2021

• #4

Roger Perry said:

Was there no interest from any UK buyers..?
I realize its' all about the money but it would have been good to keep the old company in domestic hands, those wall street guys play a rough game, maybe just bought it for the real estate.

Click to expand...

I imagine the shareholders agreed to the highest bidder.

Bloody yanks, always spoil everything.

 

jondear

Member

Location

Devon

• Oct 2, 2021

• #5

The End

 

matthew

Member

Location

Cornwall, SW England

• Oct 2, 2021

• #6

Sad.

 

G

Gedd

Member

Livestock Farmer

• Oct 2, 2021

• #7

They not the firm they were for a long time now

 

R

Roger Perry

Member

Location

Monte Vista 81144, Southern Colorado.

• Oct 2, 2021

• #8

Oldmacdonald said:

I imagine the shareholders agreed to the highest bidder.

Bloody yanks, always spoil everything.

Click to expand...

How come the Brits did not step up..?

 

B

Bongodog

Member

• Oct 2, 2021

• #9

Roger Perry said:

How come the Brits did not step up..?

Click to expand...

In order to justify the purchase cost the new owners will need to literally squeeze the company until it screams for mercy. In 5 years time the abattoirs etc will all be either gone or in the process of going, freehold property sold off and leased back at silly rents etc. Far easier to do from 3500 miles away. A UK buyer might be worried about bad publicity

 

Highland Mule

Member

Livestock Farmer

Location

Scottish Highlands

• Oct 2, 2021

• #10

Roger Perry said:

How come the Brits did not step up..?

Click to expand...

Maybe they did. Who knows the nationality of the owners of CD&R? For all I know, it’s part owned by my pension funds.

As I’ve written before, best not confuse country of registration and that of ownership.

 

R

Roger Perry

Member

Location

Monte Vista 81144, Southern Colorado.

• Oct 2, 2021

• #11

Bongodog said:

In order to justify the purchase cost the new owners will need to literally squeeze the company until it screams for mercy. In 5 years time the abattoirs etc will all be either gone or in the process of going, freehold property sold off and leased back at silly rents etc. Far easier to do from 3500 miles away. A UK buyer might be worried about bad publicity

Click to expand...

Think they own Wolsley UK plumbing supplies also, is that running good.?

 

S

Suffolk Serf

Member

Location

Bury/Thetford

• Oct 2, 2021

• #12

Roger Perry said:

Think they own Wolsley UK plumbing supplies also, is that running good.?

Click to expand...

Not been asset stripped as far as i'm aware.

 

neilo

Member

Mixed Farmer

Location

Montgomeryshire

• Oct 2, 2021

• #13

It’s not been sold yet, that’s down to the shareholders to agree to the offer. The Morrison’s board have recommended they accept though.

 

B

bluebell

Member

• Oct 3, 2021

• #14

another PLC company sold to a foreign buyer? Over the years with seen nearly all the premier football clubs bought up by foreign owners, ulility companies, etc etc etc, the cupboards starting to look quite bare?

 

P

PostHarvest

Member

Location

Warwick

• Oct 3, 2021

• #15

Suffolk Serf said:

Not been asset stripped as far as i'm aware.

Click to expand...

Wolseley built a big distribution warehouse. The new owners have sold it off to the government. Its now a Covid laboratory

 

Lazy Sod

Member

Location

Warminster Wiltshire

• Oct 3, 2021

• #16

Maybe they give it a good shake up, it could do with it.

 

R

Roger Perry

Member

Location

Monte Vista 81144, Southern Colorado.

• Oct 3, 2021

• #17

bluebell said:

another PLC company sold to a foreign buyer? Over the years with seen nearly all the premier football clubs bought up by foreign owners, ulility companies, etc etc etc, the cupboards starting to look quite bare?

Click to expand...

Was always lead to believe that London was a financial center of the world yet so many start-ups choose New York for their IPO's.
If the gov do not go out of their way to support domestic industry / tech, pretty soon it will drift away.

 

matthew

Member

Location

Cornwall, SW England

• Oct 3, 2021

• #18

Lead advisor to the bid and no doubt up to his scraggy neck in it, was Terry Leahy. Ex Tesco boss?

 

David.

Member

Mixed Farmer

Location

J11 M40

• Oct 3, 2021

• #19

Stopping in house home deliveries, and Amazon doing them.

 

2

2wheels

Member

Location

aberdeenshire

• Oct 3, 2021

• #20

Lazy Sod said:

Maybe they give it a good shake up, it could do with it.

Click to expand...

don't know if it needs a shake up but wife ( and i ) do most of our shopping at morrisons. quality and value for money is as good if not better than elsewhere. we have aldi,lidl, tesco asda etc within the same distance or closer and morrosons gets our vote so far.