Yet another Morrisons thread

bilky asko
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WillPS wrote: Thu 27 May, 2021 20.52
all new Phil wrote: Thu 27 May, 2021 08.01 Not a fan of the new More card scheme. Can’t be bothered with this opting in to deals faffing that it seems like all loyalty schemes now do.
Nor me, and having looked the offers are 10% off 3 products I've never bought and have no interest in.
I haven't done too badly from it with my initial offers - some of the offers appear to be continuations of the sort I'd get before (money off milk and Pepsi), and one was for a free packet of Morrisons The Best crisps (at a value of £1).

Out of my current five, three will be definitely used on my next shop without making any new purchases, and they're all the best discounting ones at 15% off.
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Whataday
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Morrisons: Supermarket agrees £6.3bn takeover

Supermarket chain Morrisons has accepted a £6.3bn ($8.7bn) takeover bid by a US investment group led by the owner of Majestic Wines.

Last month, the supermarket group turned down an offer from a different firm, saying it had significantly undervalued the business.

Morrisons chairman, Andrew Higginson, said the new offer was fair, and the chain would "continue to prosper".

Morrisons has nearly 500 shops and employs about 118,000 people in the UK.

The deal is subject to shareholder approval but the supermarket group's directors are recommending it is unanimously voted for.

The takeover is led by US private equity group Fortress Investment Group.

Under the terms of the deal shareholders will receive 254p per share - which Morrisons said was a 42% premium on its share price before the offer period - brought about with the disclosure of the rejected offer.

The UK's fourth largest supermarket group turned down the bid worth £5.5bn from Clayton Dublier & Rice in June.

Mr Higginson said the supermarket's "performance through the pandemic" had improved its standing and enabled it to enter discussions with Fortress from "a hard-won position of strength".

He said it was clear to the supermarket's directors that Fortress had a "full understanding and appreciation of the fundamental character of Morrisons".

BBC business correspondent Katy Austin said discussions had been going on for some time and that she understood that a series of commitments - including on pay and property - had been significant in the Morrisons board's decision.

Joshua A Pack, managing partner at Fortress, said the group was committed to being "good stewards of Morrisons".

Fortress's bid is backed with funding by the Canada Pension Plan and Koch Real Estate Investments - part of Koch Industries.
https://www.bbc.co.uk/news/business-57705253
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WillPS
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Hard to see what difference the takeover will actually bring about. The chain is probably in the best place its been in since the Safeway acquisition, it'll be interesting to see if the strategy they are persuing and the management currently in place really do stay as now.
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