- June 21, 2021
- Posted by: Stratford Team
- Category: Business
Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.
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.
Another…
