X (Twitter) LinkedIn
    Tuesday, November 28
    Login
    0 Shopping Cart
    X (Twitter) LinkedIn
    Private Equity InsiderPrivate Equity Insider
    • About Us
    • Digital Events
    • Our Network
      • Reach
      • Sponsors
      • Members
    Private Equity InsiderPrivate Equity Insider
    Home»Deals»Private-equity firms battle to buy Morrisons
    Deals

    Private-equity firms battle to buy Morrisons

    July 9, 20211 Min Read
    LinkedIn Facebook Twitter Email WhatsApp
    Share
    LinkedIn Facebook Twitter Email WhatsApp

    Investors are clamouring to buy Britain’s fourth-largest supermarket group

    Sir ken morrison took over his father’s market stalls in Bradford in 1952, 53 years after they started selling eggs and butter. Soon he was running one grocery shop, and then many. In 1967 Morrisons went public, in a share offering that was 174 times oversubscribed.

    Now Britain’s fourth-largest supermarket chain—and the poshest of its budget outlets—is in high demand once more, this time from bidders seeking to take it private again. On June 14th Clayton, Dubilier & Rice (cd&r), an American private-equity group, offered £2.30 ($3.25) a share, a 31% premium to the closing price the previous day. The board turned its nose up at the bid, saying that it “significantly undervalued Morrisons and its future prospects”. But on July 3rd it accepted a rival offer of £2.54 from a consortium led by Fortress, another private-equity group. That values Morrisons at £9.5bn, including £3.2bn of debt.

    Read more/Source: The Economist

    Related

    Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.

    Capital deals PE Insider Private Equity
    Share. LinkedIn Facebook Twitter Email WhatsApp

    Related Posts

    Warburg Pincus surpasses target to close $17bn private equity fund

    October 18, 2023

    Brookfield banks $12B for its largest PE fund

    October 18, 2023

    Brookfield buys KKR’s Spanish solar company stake

    March 23, 2023

    Ethical Capital Partners buys Pornhub for an undisclosed sum

    March 18, 2023

    Comments are closed.

    Other Articles

    Hancock Claims Consultants Announces a New Capital Investment From Century Equity Partners

    January 9, 2021

    Microsoft partner WinWire ropes in private equity investment

    April 13, 2021

    The Biggest Firms In Private Equity Are Clubbing Up Once Again

    May 10, 2021

    Calixar invests EUR1m in pipeline of highly druggable membrane protein targets and native antigens

    April 12, 2021

    Private Equity Insider LLC
    1212 Avenue of the Americas
    New York City 10036
    USA

    [email protected]

    X (Twitter) LinkedIn
    © 2023 Private Equity Insider LLC. All rights reserved.
    • About
    • Terms of Use
    • Cookie Policy
    • Privacy Policy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.

    View Cart Checkout Continue Shopping

    Sign In or Register

    Welcome Back!

    Login to your account below.


    Lost password?