M&G says $8.7 bln Morrisons bid doesn’t reflect company’s true value

British money manager M&G has added to the voices criticising a proposed private equity takeover of British supermarket chain Morrisons, saying it does not reflect the true value of the company. Morrisons this month agreed to a takeover led by SoftBank Group Corp-owned Fortress, which valued Britain’s fourth-largest supermarket chain at about 6.3 billion pounds […]

Morrisons’ rejection of £5.5bn offer may spark bidding war for grocer

An unsolicited £5.5bn private equity bid for Morrisons, swiftly rejected by the supermarket chain, could spark a bidding war for Britain’s fourth biggest grocer and has raised concerns that other supermarket groups could be sold off to private equity. On Saturday night Morrisons said it had rebuffed a preliminary takeover bid worth just over £5.5bn from the US […]