I see my former boss and colleague Alistair "Acerbic" Osborne is today in The Times talking up the prospects of a potential takeover bid for J Sainsbury following the private equity bid battle for rival WM Morrison...
Posts tagged: WM Morrison
Softbank-backed Fortress teams up with American billionaires to make £6.3 billion counter bid for WM Morrison - Part 3
It appears The Sunday Telegraph was bang on the money with it's weekend line about Apollo Global Management coming in for WM Morrison.
So who would have thought it: a potential three-way tussle for Morrisons! Below is the link to the Apollo statement:..
Softbank-backed Fortress teams up with American billionaire to make £6.3 billion counter bid for WM Morrison
WM Morrison's has just agreed to a counter offer from a consortium comprising the billionaire Koch family and Softbank's Fortress.
The Canada Pension Plan Investment board has also joined the group, who have offered 254p a share for Morrisons. Below are some of the highlights from the press release:
Summary and highlights..
There is something curious going on in the London market with this recent string of private equity bids for London-listed companies.
Betaville noticed that Senior's shares are still hovering around the 150p level despite the collapse of talks with American private equity suitor Lone Star.
Prior to Lone Star's approach becoming public Senior's shares were trading around 100p. The stock got up to around 165p as Lone Star improved its indicative offer to 200p...
Clayton Dubilier & Rice weighs £5 billion plus takeover bid for WM Morrison Supermarkets, reveals Sky News - Part 2
Commentators, journalists and analysts were out in force this morning adding their two pennies worth to the weekend's most exciting corporate news event, airing all sorts of (potentially wild) speculation about rival offerors for WM Morrison.
For excample, George MacDonald, executive editor of Retail Week, turned up on Dominic O'Connell's BBC Radio 4 slot this morning to talk up the chance of Amazon mounting a counter bid...
Clayton Dubilier & Rice weighs £5 billion plus takeover bid for WM Morrison Supermarkets, reveals Sky News
Hat tip to Mark, the "Kleinmanator", Kleinman, who has just landed a corking scoop about Clayton Dubilier & Rice approaching WM Morrison about a £5 billion buy-out. Below is a link to Kleinman's story:
Will Canadian retail giant Couche-Tard take a look at a British grocer after being spurned by the French?
That's the question I asked myself, and a few investment banker chums after it emerged over the weekend that Couche-Tard's attempt to buy Carrefour had spectacularly failed within a few days of it being launched...
I see former The Sunday Times colleague, Simon Duke, is being rather mean to NM Rothschild banker Majid Ishaq in today's business diary in The Times.
Dukey gently mocks Ishaq, the man in charge of advising Asda on its merger with J Sainsbury, for a potential loss of a multi-million pound success fee after it became clear the CMA is likely to block the mega deal. Below is a link to Simon's piece:..
I'm not sure I have ever seen such a comment - "not aware/unaware of any statement on Amazon chatter" - from a company spokesperson (see below) in reaction to a market tale.
Either the spokesperson got backed into a corner and blurted this out or this is the new way of issuing (non-denial?) denials by company spokespeople...
What do WM Morrison and Marks & Spencer both have in common (apart from being large food retailers)?
The answer is: a corporate broker (an English concept whereby a company retains an investment bank to be its "interface" with the stock market).
Yes, Betaville learned last night whilst out a top quality party packed with City grandees (such as Lord Myners, former chairman of Marks & Spencer), investment bankers and chief executives that Shore Capital had displaced Citigroup as corporate broker to Marks & Spencer...
So ... it turns out J Sainsbury is in merger talks with Walmart's Asda to create a £15 billion supermarket giant.
But who "broke" story, arguably one of the biggest UK deal scoops of the year?..