Major investor LGIM calls for more detail on Morrisons property portfolio before voting on takeover July 5, 2021 Legal & General Investment Management (LGIM), one of Morrisons’ biggest shareholders, has called for more detail on Morrisons’ property portfolio before it votes on a private equity takeover bid. Over the weekend Morrisons accepted a £6.3bn takeover offer by a consortium of funds led by private equity firm Fortress. But this morning rival Apollo said [...]
Sainsbury’s plans £50m in price cuts as supermarket wars with Aldi and Lidl heat up July 5, 2021 Sainsbury's plans £50m in price cuts as supermarket wars with Aldi and Lidl step up
Morrisons: Amazon Fresh deal could be key factor in takeover battle of the summer July 5, 2021 Morrisons’ supply deal with Amazon could be a major factor in what is shaping up to be the biggest takeover battle of the summer, with the scale and scope of Amazon offering bidders a unique chance to be part of what could be a major market upset. This morning Morrisons share price rocketed more than [...]
John Lewis to build 10,000 rental homes July 5, 2021 Retailer John Lewis will build 10,000 rental homes over the next few years, in a move into the residential property market. Tenants will have a choice of renting fully furnished with John Lewis products or using their own, according to reports. The move will give the business a long-term, stable income, and provide new job [...]
Bidding war on the cards after Morrisons accepts £6.3bn takeover July 4, 2021 Rival private equity firms are reportedly considering entering a rival bid to Morrisons’ £6.3bn takeover, which was announced yesterday. The UK supermarket chain’s board accepted a 252p-a-share offer by private equity group Fortress, after an earlier £6bn bid by a different firm was turned down two weeks ago. The total value of the deal is [...]
Sunday papers: Face mask wearing and one metre-plus rule to end on 19 July July 4, 2021 Enforced mask wearing will end and social distancing will no longer be required as part of “freedom day” unlocking on July 19, reports have suggested. Boris Johnson is understood to be preparing to update the nation this week on his plans for easing coronavirus restrictions in England, with multiple newspapers suggesting the Prime Minister believes [...]
Amazon, Starbucks and Ikea among retailers demanding new laws against violence in shops July 4, 2021 A total 100 of the UK’s major retailers, including Aldi, Costa and Primark, have called upon the Prime Minister to help tackle escalating abuse and violence against retail workers. In a letter to Boris Johnson, the retailers asked him to support an amendment to the Police, Crime and Sentencing and Courts Bill that they believe [...]
Easing of lockdown restrictions expected to slow growth at online retailer Ocado July 2, 2021 The easing of lockdown restrictions is expected to have slowed down soaring retail sales growth at Ocado as the online retailer unveils it latest trading performance next week. It was among UK grocery firms to see sales spark amid strong demand for home deliveries after the Government enforced lockdown restrictions and forced hospitality operators to [...]
Given the boot: Clarks accused of ‘fire and rehire’ staff strategy to cut costs July 2, 2021 Shoe firm Clarks has been accused of attempting to fire and rehire workers to reduce the terms and conditions for more than 100 employees at its distribution centres. The Community union said negotiations on new terms had broken down, claiming the company is pushing for its employees to accept a reduction in the hourly wage, [...]
Premier Foods calls on government to deploy army amid severe lorry driver shortage July 2, 2021 Mr Kipling manufacturer Premier Foods has called on the government to consider using the army to distribute goods to help relieve a severe shortage of truck drivers that could see supermarket shelves left bare. Last week industry leaders warned Britain could face gaps on supermarket shelves this summer and an “unimaginable” collapse of supply chains [...]
