Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Japan
  4. Japan Exchange
  5. SoftBank Group Corp.
  6. News
  7. Summary
    9984   JP3436100006

SOFTBANK GROUP CORP.

(9984)
  Report
Delayed Quote. Delayed Japan Exchange - 01/27 01:00:00 am
4692 JPY   -9.00%
12:07pSoftBank COO to step down - CNBC
RE
07:05aTaiwan battery maker ProLogium signs investment deal with Mercedes-Benz
RE
04:56aNikkei 225 Down 3.1% in Sell-Off on Federal Reserve Outlook
MT
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

SoftBank : The battle for British supermarket group Morrisons

10/19/2021 | 02:22pm EST
FILE PHOTO: A view of a Morrisons supermarket in Birtley

(Reuters) - Shareholders in Morrisons, Britain's fourth-largest supermarket group, on Tuesday approved a 7 billion pound ($9.7 billion) agreed takeover by U.S. private equity firm Clayton, Dubilier & Rice (CD&R).

Here is a timeline of the six-month battle for the grocer.

June 19

Morrisons rejects a proposed 5.52 billion pound ($7.43 billion)cash offer from Clayton, Dubilier & Rice (CD&R).

June 30

Morrisons investor JO Hambro says CD&R should increase its offer to around 6.5 billion pounds.

July 3

Morrisons agrees to a 6.3 billion pound offer from a consortium led by SoftBank-owned Fortress Investment Group. It emerges Fortress made an initial approach in early May.

July 5

A third private equity group, Apollo Global Management, says it is evaluating a possible offer for Morrisons.

July 20

Apollo says it will not bid for Morrisons on its own but may join the Fortress consortium.

July 22

Scheme document outlining Fortress' offer is published and Aug. 16 set for Morrisons' shareholders to vote on the offer. UK Takeover Panel gives CD&R until Aug. 9 to announce a firm intention to make an offer or walk away.

July 27

Silchester, Morrisons' biggest shareholder, says not inclined to support Fortress offer.

July 28

Singapore's GIC sovereign wealth fund joins Fortress-led consortium.

July 29

Morrisons investor M&G says Fortress offer does not reflect the value of the group.

Aug. 6

Morrisons agrees to an improved offer worth 6.7 billion pounds from Fortress consortium and adjourns until Aug. 27 a shareholder meeting to vote on the offer.

Aug. 9

Takeover Panel extends CD&R's "put-up or shut-up" deadline until Aug. 20.

Aug. 19

Morrisons agrees to a 7.0 billion pound (285 pence a share) offer from CD&R and drops the Fortress recommendation. Fortress says it is "considering its options". Morrisons says Aug. 27 shareholder meeting will instead be held around week starting Oct. 4.

Aug. 23

Morrisons shareholder Legal & General says it believes the true value of the supermarket group should be realised following CD&R's sweetened bid, with more attention now being paid to its property assets.

Aug. 24

Morrisons' pension schemes warn a takeover by either CD&R or Fortress could "materially weaken" the security of the schemes if no additional protection is agreed.

Aug. 27

Morrisons says scheme document for CD&R's offer to be published on or around Sept. 11. It says shareholder meeting to vote on CD&R offer will be held on or around Oct. 5.

Sept. 8

Morrisons says it is in talks with CD&R, Fortress and the Takeover Panel over an auction process. It says scheme document for CD&R's offer to be published around Sept. 25, with a shareholder meeting around Oct. 18.

Sept. 14

CD&R reaches agreement with pension trustees to provide additional security and support.

Sept. 25

Scheme document for CD&R's offer published. Shareholder meeting slated for Oct. 19.

Sept. 29

Takeover Panel says auction will be held on Oct. 2.

Oct. 2

CD&R wins the auction, bidding 287 pence a share versus Fortress' 286 pence.

Oct. 19

Morrisons' shareholders approve CD&R's offer.

($1 = 0.7234 pounds)

(Reporting by James Davey; Editing by Nick Macfie)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
SOFTBANK GROUP CORP. -9.00% 4692 Delayed Quote.-5.12%
WM MORRISON SUPERMARKETS 0.00% 286.4 End-of-day quote.61.49%
All news about SOFTBANK GROUP CORP.
12:07pSoftBank COO to step down - CNBC
RE
07:05aTaiwan battery maker ProLogium signs investment deal with Mercedes-Benz
RE
04:56aNikkei 225 Down 3.1% in Sell-Off on Federal Reserve Outlook
MT
02:54aUK competition regulator probes Clayton $10 billion deal for Morrisons
RE
01:43aJapan's Nikkei ends at 14-month low as tech stocks fall on Fed tightening timeline
RE
01/26Japan's Nikkei hits 14-month low; rate hike concerns hit tech shares
RE
01/26AInnovation Fails to Sustain Investor Appetite for Hong Kong Debutants With Flat Openin..
MT
01/26Tiger Global, Sapphire led funding round values block chain firm Blockdaemon at $3.25 b..
RE
01/26Blockdaemon Raises $207 Million in Series C Funding Round
DJ
01/26Crypto exchange FTX US valued at $8 bln as first fundraise draws SoftBank, Temasek
RE
More news
Analyst Recommendations on SOFTBANK GROUP CORP.
More recommendations
Financials
Sales 2022 6 119 B 53 001 M 53 001 M
Net income 2022 1 058 B 9 165 M 9 165 M
Net Debt 2022 15 202 B 132 B 132 B
P/E ratio 2022 7,46x
Yield 2022 0,94%
Capitalization 8 021 B 70 149 M 69 480 M
EV / Sales 2022 3,80x
EV / Sales 2023 3,79x
Nbr of Employees 58 786
Free-Float 69,3%
Chart SOFTBANK GROUP CORP.
Duration : Period :
SoftBank Group Corp. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SOFTBANK GROUP CORP.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 15
Last Close Price 4 692,00 JPY
Average target price 9 718,00 JPY
Spread / Average Target 107%
EPS Revisions
Managers and Directors
Masayoshi Son Chairman & Executive President
Yoshimitsu Goto CFO, Director & Senior Managing Executive Officer
Raul Marcelo Claure Chief Operating Officer & Executive Vice President
Tim Mackey Chief Legal Officer & Group Compliance Officer
Masami Iijima Independent Outside Director
Sector and Competitors
1st jan.Capi. (M$)
SOFTBANK GROUP CORP.-5.12%77 086
AT&T INC.-1.42%173 169
T-MOBILE US-10.14%130 176
KDDI CORPORATION5.86%69 405
AMÉRICA MÓVIL, S.A.B. DE C.V.-8.67%61 957
VODAFONE GROUP PLC10.65%45 459