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    MRW   GB0006043169

WM MORRISON SUPERMARKETS PLC

(MRW)
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Wm Morrison Supermarkets : CD&R set to continue pursuit of UK's Morrisons, FT says

06/20/2021 | 09:09pm EDT

June 20 (Reuters) - U.S. private equity firm Clayton, Dubilier & Rice (CD&R) is set to push ahead with its pursuit of British supermarket chain Morrisons despite its initial offer being rejected, the Financial Times reported https://on.ft.com/3wJic4Z on Sunday.

CD&R now plans to wait to gauge investor reaction and signs of any political pushback before deciding on its next steps, the newspaper reported, citing people familiar with the discussions.

The board of Morrisons will seek assurances from any potential buyer on the future of its workforce, manufacturing and pensions as the supermarket group prepares for rival bids, the Times newspaper reported https://bit.ly/3qbuQaC on Monday.

The move from CD&R could spark a bidding war from rival private equity firms or Amazon.com Inc, which has an online partnership with the grocer, the Times said.

The Labour Party warned on Sunday that a private equity acquisition of Morrisons, Britain's fourth biggest grocer, would put jobs at risk, but it is unlikely that the government would look to intervene, the Times added.

CD&R and Morrisons did respond to Reuters' requests for comment.

Morrisons had rejected a proposed 5.52 billion pound ($7.62 billion) cash offer from CD&R on Saturday, saying it was far too low. (Reporting by Ann Maria Shibu and Vishal Vivek in Bengaluru; Editing by Edmund Blair and Amy Caren Daniel)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. -7.56% 3327.59 Delayed Quote.2.17%
WM MORRISON SUPERMARKETS PLC 1.13% 267.6 Delayed Quote.50.89%
All news about WM MORRISON SUPERMARKETS PLC
07/30FORM 8.3 - THE VANGUARD GROUP, INC. : Wm Morrison Supermarkets plc
DJ
07/30WM MORRISON SUPERMARKETS : UK Compeition Regulator Flags No Concerns Over Fortre..
MT
07/30London Shares to Open Lower After Asia Falls, US Gains
DJ
07/30M&G Rejects Morrisons Takeover
CI
07/30SCHRODERS' : Decision on Fortress' $8.8 Billion Offer for Morrisons Not Yet Fina..
MT
07/29M&G : Likely to Oppose Fortress' $8.8 Billion Takeover Bid for Morrisons
MT
07/29M&G says $8.7 bln Morrisons bid doesn't reflect company's true value
RE
07/29WM MORRISON SUPERMARKETS : HSBC Bank Plc - Form 8.5 (EPT/RI) - Wm Morrison Super..
AQ
07/28WM MORRISON SUPERMARKETS : Morrisons Shareholder JO Hambro Says Fortress' $8.8 B..
MT
07/28London Shares Close Up as Covid Cases Continue to Fall
DJ
More news
Financials
Sales 2022 18 117 M 25 179 M 25 179 M
Net income 2022 343 M 476 M 476 M
Net Debt 2022 2 529 M 3 515 M 3 515 M
P/E ratio 2022 19,5x
Yield 2022 2,75%
Capitalization 6 455 M 8 976 M 8 970 M
EV / Sales 2022 0,50x
EV / Sales 2023 0,48x
Nbr of Employees 118 000
Free-Float 98,8%
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Technical analysis trends WM MORRISON SUPERMARKETS PLC
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 11
Last Close Price 267,60 GBX
Average target price 250,65 GBX
Spread / Average Target -6,33%
EPS Revisions
Managers and Directors
David T. Potts Chief Executive Officer & Director
Michael Gleeson Chief Financial Officer & Director
Andrew Thomas Higginson Independent Non-Executive Chairman
Trevor John Strain Chief Operating Officer & Director
Rooney Anand Senior Independent Non-Executive Director
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