Cobham puts top secret defence rival Ultra Electronics in its sights June 26, 2021 British aerospace giant Cobham has set its sights on the engineering company behind some of the UK’s most critical military equipment, paving the way for a potential hostile takeover bid. The defence group, which itself was taken over by US private equity firm Advent International in a £4bn deal last year, said it was considering [...]
Labour says government should intervene in private equity takeover of Morrisons June 23, 2021 Labour has called on the government to confirm it will intervene in any private equity takeover of Morrisons to secure binding commitments about the buyer’s business plan, on jobs and on pensions. Morrisons revealed this weekend it had rejected a £5.5bn takeover bid from private equity firm Clayton, Dubiliter & Rice (CD&R), saying it believed [...]
E-commerce grocery sales plateau boosts Aldi’s market share to peak levels June 22, 2021 The growth of e-commerce sales in the grocery market has plateaued, giving the likes of Aldi an opportunity to grow its market share after not making use of online sales in the past year. The percentage of e-commerce sales in the grocery market remained flat at 13.4 per cent in the four weeks to 13 [...]
MPs to write to competition watchdog over potential takeover of Morrisons June 22, 2021 The Business, Energy and Industrial Strategy Committee is reportedly preparing to write to the Competition and Markets Authority over the takeover of Morrisons. The MPs’ decision to intervene followed concern from a group of Labour MPs that a private equity takeover of the UK’s fourth biggest supermarket would put thousands of jobs at risk, the [...]
US stocks surge after worst week in nearly four months June 21, 2021 Wall Street rallied today, with the Dow Jones Industrial Average completing its strongest session in over three months as investors piled back in to energy and other sectors expected to outperform as the economy rebounds from the pandemic. The S&P 500 value index, which includes banks, energy and other economically sensitive sectors and has led gains in [...]
Private equity interest: Why is Morrisons such an attractive takeover target? June 21, 2021 Morrisons has rejected a £5.5bn takeover approach from a US private equity firm amid speculation that more UK supermarkets could be snapped up. Shares in Morrisons jumped earlier this morning following confirmation of the rejection at the weekend, as the chain said potential bidder Clayton, Dubilier & Rice “significantly undervalued” the grocer with its 230p-per-share [...]
UK supermarket shares rocket with Morrisons up 30 per cent after takeover bid June 21, 2021 Morrisons’ share price leapt 30 per cent just minutes after the market open this morning, in wake of news a private equity firm approached the supermarket with a £5.5bn takeover bid. In fact, shares in all major UK’s biggest supermarkets soared on this morning after Morrisons rejected a takeover bid from a US private equity [...]
Private equity giant mulls £5.5bn Morrisons takeover June 19, 2021 Clayton Dubilier & Rice (CD&R) is reportedly weighing up a £5.5bn takeover bid for supermarket chain Morrisons. The private equity firm is in the early stages of evaluating an offer for Britain’s fourth biggest supermarket, Sky News first reported, and is understood to have made a preliminary approach to Morrisons’ board. The buyout giant is [...]
A UK-Australia trade deal must address Canberra’s reluctance to tackle climate change June 16, 2021 The new trade deal with Australia is the first building block in the Prime Minister’s vision for a Global Britain, and sets the UK on a firm path to joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. There has already been fierce debate over the contents of the agreement. Environmental concerns must be at [...]
Wanted Down Under: UK signs Australia free-trade deal June 15, 2021 The UK and Australia have struck a trade deal that will see a gradual wind-down of tariffs between the two countries and opens up new work visas for youngsters. PM Boris Johnson and his Aussie equivalent Scott Morrison sealed the deal over a Downing street dinner of Scottish smoked salmon and Welsh lamb last night. [...]