Morrisons takeover agreed

[JP1]

US Venture capitalists deal agreed

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

 

[capfits]

US Venture capitalists deal agreed

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

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.

 

[Roger Perry]

US Venture capitalists deal agreed

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

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]

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.

I imagine the shareholders agreed to the highest bidder.

Bloody yanks, always spoil everything.

 

[jondear]

The End

 

[matthew]

Sad.

 

[Gedd]

They not the firm they were for a long time now

 

[Roger Perry]

I imagine the shareholders agreed to the highest bidder.

Bloody yanks, always spoil everything.

How come the Brits did not step up..?

 

[Bongodog]

How come the Brits did not step up..?

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]

How come the Brits did not step up..?

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.

 

[Roger Perry]

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

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

 

[Suffolk Serf]

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

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

 

[neilo]

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.

 

[bluebell]

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?

 

[PostHarvest]

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

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

 

[Lazy Sod]

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

 

[Roger Perry]

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?

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]

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

 

[David.]

Stopping in house home deliveries, and Amazon doing them.

 

[2wheels]

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

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.