Morrison Foerster are first law firm to mandate vaccines for London lawyers August 26, 2021 Law firm Morrison Foerster have publicly announced that its lawyers must be fully vaccinated against covid-19 to return to the London office. Morrison Foerster, also known as MoFo, will make covid-19 vaccinations mandatory from 13 September for those coming back to the office, where they will also need to wear a mask in common areas [...]
Qantas targets December international flights after AU$1.8bn loss August 26, 2021 Australian carrier Qantas said that it was aiming to restart flights to international destinations with high rates of vaccination in December after falling to a AU$1.8bn (£950m) annual loss. Under current plans, the airline will recommence flying to countries such as Singapore, Japan, the United States, Britain and hopefully New Zealand by the end of [...]
Just Eat and ITV set to be booted from FTSE 100, while Morrisons and Meggitt could be added August 25, 2021 Takeaway delivery service company Just Eat Takeaway.com is set to be booted from the FTSE 100 after the index’s watchdog ruled it was a Dutch rather than a British company. FTSE Russell, the global index provider that recommends which listed companies should join or be removed from London’s premier index, ruled that Just Eat should [...]
Pension trustees warn Morrisons bidders of risk to retirement pots August 25, 2021 Private equity firms circling Morrisons have been warned buyouts would hinder its ability to support staff retirements by pension trustees. Trustees of pension assets worth £5.5bn said the proposed buyout would undermine the covenant protecting the retirement funds of members. Both Clayton, Dubilier & Rice and Fortress should offer improved financial security to scheme members [...]
DEBATE: Are overseas private equity bids good news for the UK? August 24, 2021 Morrisons has accepted a £7bn bid from US private equity firm Clayton Dubilier & Rice. The fierce competition from US investors to buy the British supermarket giant has prompted concerns over what an injection of foreign money would mean for the high street stalwart. Ewan MacKinnon and Fraser Thorne take on the debate: Ewan MacKinnon, [...]
Supermarket sellout: After Morrisons, private equity firms are circling Sainsbury’s August 23, 2021 Private equity companies are circling British supermarket group Sainsbury’s with a view to possibly launching bids of more than £7bn. Watch the full report.
Sainsbury’s shares rocket: Investors eye supermarket’s property portfolio August 23, 2021 Sainsbury’s shares were up 15 per cent cent after reports that a private equity giant is poised to launch a bid topping £7bn. Shares in J Sainsbury rose by 15 per cent on Monday to 338.89p, after closing on 294.70p. Apollo Global Management is reportedly considering a bid for the supermarket after previously losing out [...]
Morrisons’ messy and dramatic takeover battle: Where are we now? August 20, 2021 Morrisons agreed a £7bn offer late last night in the latest twist in the UK supermarket chain’s dramatic takeover battle. Shares jumped this morning after investors digested the new deal from US private equity firm Clayton, Dubilier & Rice (CD&R). It comes weeks after a rival bidder, a consortium led by private equity rival Fortress, [...]
Bidding war for Morrisons heats up as US private equity giant makes £7bn move August 20, 2021 A fresh £7bn bid for supermarket chain Morrisons has been put forward by US private equity firm Clayton, Dubilier & Rice (CD&R). The deal has been unanimously accepted by the board of the grocer and directors have said shareholders should vote in favour of the takeover at a meeting due in early October. It means [...]
Ocado sales dip as pre-pandemic habits return, supermarket data finds August 17, 2021 The UK’s return to normality has been accompanied by a return to pre-pandemic shopping habits, with online and overall grocery sales declining. The latest grocery market share figures from Kantar for the period ending 8 August show that grocery sales fell by four per cent. The latest twelve weeks saw the lowest level of online [...]