Morrisons takeover approach sparks jobs fears – business live | Business

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A shock takeover approach for Wm Morrison from private equity firm Clayton Dubilier & Rice has raised fears over possible job losses, and could prompt a bidding war for the UK’s fourth largest grocer.

Although Morrisons rejected CD&R’s £5.52bn possible cash offer, analysts believe the company will face further overtures – and that other potential buyers could enter the mix too.

Nick Bubb, an independent retail analyst, predicted:

“I suspect a [Morrisons] deal can be agreed at 250p-260p and after that the focus will increase on a potential breakup of Sainsbury and even Tesco, so it should be a lively day on the stock market.

I certainly wouldn’t want to be a hedge fund short of any of the big three.

We’ll get the City’s verdict when stock market trading begins at 8am.


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