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 [...]
Amazon destroying hundreds of thousands of unsold items every week June 21, 2021 Amazon is destroying hundreds of thousands of unsold items every week, amounting to millions of items each year, many of which are new and unused. An undercover investigation by ITV found Smart TVs, laptops, drones, hairdryers, top of the range headphones, computer drives, books and thousands of sealed face masks were sorted into boxes marked [...]
Heavy rain waters down consumer enthusiasm as footfall slows June 21, 2021 Footfall fell by 3.1 per cent last week across all UK destinations, as rain put off shoppers from heading outside. The high street was the hardest hit area during the last week, with footfall falling 5.4 per cent, according to the latest data from Springboard. In shopping centres and retail parks, where less time is [...]
Amazon retains crown as world’s most valuable brand June 21, 2021 Amazon has retained its place as the world’s most valuable brand, growing 64 per cent this year to $684bn – equivalent to the GDP of Poland. Amazon’s value grew by $268bn in the last year, according to data from Kantar, as a locked down world turned to the retailer for their online shopping. After Amazon, [...]
Hotel Chocolat agrees to buy struggling beauty business for… £4 June 21, 2021 Hotel Chocolat has agreed to fully acquire Rabot, a beauty business that was born through a joint venture with the chocolatier, for £4. Rabot was established in 2016 as a joint venture between Hotel Chocolat and Andrew Gerrie, the chocolate retailer’s non-executive chairman. The business was created to develop a range of beauty products inspired [...]
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 [...]
McDonald’s maps out post-Covid expansion in UK and Ireland June 20, 2021 McDonald’s has announced a major post-Covid expansion in the UK and Ireland, with the fast food chain set to open 50 new restaurants and create 20,000 new jobs. The fast food giant is also planning to introduce “Grab & Go options in areas with a high worker population and improved click and collect facilities”. There [...]
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 [...]
Another adviser warns JD Sports shareholders on chairman’s pay June 19, 2021 Another leading adviser has added its name to group urging JD Sports shareholders to look at bonus payments for bosses, despite the retailer refusing to repay government support. Adviser IVIS has warned shareholders over votes on bonus payments and its future remuneration policy, Sky News first reported. Advisory service Glass Lewis has already issued [...]
Boohoo’s Carol Kane staves off investor revolt at AGM to win overwhelming shareholder backing June 18, 2021 Boohoo co-founder Carol Kane has avoided a feared investor revolt to oust her as a director today, instead winning overwhelming shareholder support. Some 88 per cent of Boohoo shareholders voted in favour of Kane continuing in her role as an executive director at the company at today’s general meeting. Prior to the AGM, there were [...]
