biddingwar
Private equity firm Clayton, Dubilier & Rice has increased its offer for Wm Morrison Supermarkets PLC (LON:MRW) to 285p per share. The offer has been recommended by the Morrison’s board. Q2 2021 hedge fund letters, conferences and more That’s ahead of the current offer from rival firm Fortress, which following the announcement urged Morrisons investors to “take no action” and said it would make a statement in due course. Morrison shares rose 4.4% following the announcement to 291.4p per share. The Bidding War For Morrison ReignitedNicholas Hyett, Equity Analyst at Hargreaves Lansdown: “Another...
ValueWalk
Apollo Global Management has confirmed it no longer intends to make an individual bid for Wm Morrison Supermarkets PLC (LON:MRW). Instead it’s in discussions with the syndicate led by Fortress, to become part of the investment group which has previously made a cash offer. Q2 2021 hedge fund letters, conferences and more The existing Fortress offer stands at 254p cash per share. That’s about a 42% premium to the closing price on 18 June, and values the company at around £6.3bn. The bid is being led by US private equity firm Fortress, with funding currently backed by the Canada Pension Plan and ...
ValueWalk
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