Bit of an uplift Monday morning?
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Ā£2.54 per share is the offer
I canāt see how CD&R wonāt come in higher here - hard to believe they lead out with their highest maximum bid from the outset. This bid does however seem to be more focused towards keeping Morrisonās as Morrisonās and thus more likely to be approved.
A 3rd player entering the game would make things really juicy, but itās still all to play for in my mind.
260p Monday?
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Iām not sure it will go that high if a deal is already done at Ā£2.54. Not sure what the legal binds are behind the news that the deal is accepted. I think the board are suggesting we all take it. I guess if shareholders and potential buyers into the stock think it should be rejected then it could push up the price.
Maybe there is more to get out of this deal after all
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I was just reading this. So if the share holders object may go a bit higher still. Very interesting.
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We might get a little more yes, but I donāt think too much more as the valuation offer looks pretty good and the board have recommended it. Not sure the split in share holders, but likely to come down to some big institutions with significant % holdings that swing it one way or the other. Will be fascinating to see this one play out.
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It seems overwhelming likely it will be sold, just a matter of to who and for how much.
Optimistic targets for me:
Amazon = 300p
Other = 275p
Having said that, most of the profits (from 178p) have been made so wouldnāt be buying more personally. The board āapprovingā a bid at 254p gives a bit of a safety net and creates some urgency to the process.
Interesting that Fortress approached back in May with 220p which was not made public at the time and the 254p bid was received way back on June 5th.
From The Guardian:
āMorrisons said an initial unsolicited proposal was received from Fortress on 4 May at 220p a share. Fortress then made four subsequent proposals before its offer reached a total value of 254p a share on 5 Juneā
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So whatās the timeline for sale? Will it drag for months or if offer was made some time ago do we expect a quick conclusion?
It will be interesting to see what this opens at this morning 
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RNS released this morning:
For immediate release
5 July 2021
Statement regarding Wm Morrison Supermarkets plc (āMorrisonsā)
Apollo Global Management, Inc. (together with its subsidiaries, āApolloā) notes the recent press speculation in relation to Morrisons and confirms that it is, on behalf of certain investment funds managed by it, in the preliminary stages of evaluating a possible offer for Morrisons.
No approach has been made to the Board of Morrisons. There can be no certainty that any offer will be made, nor as to the terms on which any such offer might be made.
In accordance with Paragraph 4(c) of Appendix 7 of the Code, the Panel will announce the deadline by which Apollo must clarify its intentions in relation to Morrisons.
A further announcement will be made as appropriate.
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- CD&R have until July 17th.
- Other bids coming in
- Shareholders vote
- Then suspension for things to be processed
Still some weeks to go yet until a done deal and cash payments are made.
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Great open!
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Yes well above the Ā£2.54 per share currently on the table. Now my thinking turns to āDo I get our nowā taking my 43% profit or do I hold and wait for better/worse newsā¦
Decisions decisions!
Well done to all those that have made some profits here
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Fortressā offer has been accepted by Morrisonās board but thatās not to say it will be approved by shareholders. We can expect to see more offers imminently.
Morrisonās board will push hard to sell Fortressā 254p offer to its largest shareholders in coming days and weeks, arguing month-long negotiations and that while the price is low (one Bloomberg article suggested anywhere between 250 - 300p) Fortressā is serious about preserving the company and long-term growth.
(Bit puzzling why the news broke early Saturday morning with the market closed?)
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Any thoughts on when if to sell? Im 50% up. Reports of more offers expected.
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Only you know the answer to that Karl. Well done on 50%, thatās a great roi and a few % more than me!
I think itās fair to say we are in the ballpark now of fair market value. Whatās the potential downside v the potential upside from here?
Im 52% upā¦ hoping to squeeze a bit more yet
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Think itāll climb a little higher, considering 3 interested parties.
I liked the consistent dividends over the past couple years and the 50% gain is great.