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I agree that they could have sold for more but I can only assume that they have agreed a lower price because of the assurances that Fortress have given about the future of the company and its employees. To be fair the SP was stuck at the 180p mark for an eternity and showed no signs of moving so I suppose 254p is not too bad all things considered.
does this mean we all just get paid off if this is/will be taken off the market ,or do we sell monday morn?
Rock solid Yorkshire based company going. Sir Ken will turn in his grave.:-(
Morrisons share holders have been robbed big time.Property alone is worth more.Absolute disgrace.
It’s 2.52. Take it from me. Plus the 2p divi.:-)
Think another bid will also be made by the original mob.
Going private and being taken off the markets. One shareholder…Fortress
Fortress have offered £2.52 plus a 2p divi. 42% above when the offer commenced
Letter from chairman to staff this morning
Yes. Heard it is from a different equity firm. For an extra 800 million pounds. How much will that add to the share price I wonder?
Takeover just agreed this morning
Now when buying a house do you put in a knockout offer or try a cheeky low ball bid , which could flush out other buyers . No you start low and work up until you haggle out a acceptable price,
They will know ( with sir Terry advising them what to do ) how much they can make what to bid before it’s not worth the process fees.
So with that in mind I’ve bought a slither of £1500 at 236 average on EToro with a stop loss at 232 heck I lose £50 if it falls but gain £500 if it hits 285. Which is my kinda target , but if it goes to 260 I’ll move my stop loss to 250 and I can’t lose .
We shall know in 2 weeks as that is the put up or shut up deadline
Open Short Positions in Morrison (WM)
Fund % Short Change Date Changed
Pelham Long/Short Master Fund Limited 1.65 0.65% 9 Jul 2020
Total 1.65%
Yes, I would expect a final offer from CD&R, or another similar firm, to be around 270-290. But Amazon is the wild card here - they stand to lose if Morrison's goes to a private equity firm. So they may feel compelled to top all other offers, even if the price would make little economic sense for anyone not operational involved with Morrison's. Also, Amazon can top other offers because they have the advantage of being able to make an offer in cash and shares, which is "cheaper" for them than a straight cash offer would be for a private equity firm. If this does turn into a bidding war, I imagine an Amazon offer could take us well into the 300s.
Following one of the most logical paths, a second offer (not BAFOA) is very likely to be @~295
Further incremental increases beyond the above will have diminishing (and negative) returns for a potential buyer. In my view, any entity who is serious about making a deal will be coughing up at least 295.
It is now two weeks since this started .I think we will hear something by Monday of an increased bid and it would not surprise me that by this afternoon there will be another spike in the share price.I think the next offer will be in the region of £2.80 but think the takeout price finally will be north of £3
A snipet from an article in the ft by Merryn Somerset Webb.
“The chances of it being bid for are now 100 per cent,” points out Smithers of Pelham Smithers Associates.
IMHO the board could well be sitting on a new bid, hasn't been leaked this time as its more in line with fair value. Time will tell !!
Here’s another one, how is it possible these sold 4m shares in the 30th at £3.09 ?? Is it possible someone is building a stake at anything upto £3.10 ??
https://www.londonstockexchange.com/news-article/market-news/form-8-3-wm-morrison-supermarkets-plc/15042632
Yesterday afternoon was dominated by the shorts panic buying , today we've seen a correction but the main event of a higher bid / multiple bids is still to come.
IMHO we won't have to wait much longer.
falklandinvestor
Yesterday's accidental sale turned out to be a good thing after all.
Falk, exactly Blackrock have thrown the towel in, they must be convinced it will go higher :)
This will definitely go higher, just look how the shorts have been scrambling to close
there is certainly something brewing. it’s been stagnant for a week or so was either going to fall back or rise. hoping we see 250 again or even 260
good luck all
I wonder if the offer will be made in the morning.I am sure that eventually the price will be about £3 unless another bidder really wants it
falklandinvestor, it's never a mistake to take a profit, you could always dip your toe in again on any pull back