Member Info for Kingalf

Just another 3,848,885 share to buy and Kight becomes the single biggest share holder.
Huw must be crapping himself thinking he'll soon be out of a job after Kight converts Evgen into a shell company for his printer business.

Funny how the share price seems to anticipate and adjust accordingly, just prior to an improved bid being announced.

Fortress has definitely played the better hand, for CD&R to ask for more time clearly demonstrates that they were in the £2.70 region and are now having to go back to their bankers to ask for more.
The time extension also demonstrates that the big share holders are now pulling the strings, and the Morrisons board are toeing the line. I had thought £2.75 would have been the eventual price, I can now see a price closer to £3.00.
The sad fact is the higher the price goes, the more they'll strip it down. Not only will it disappear from the stock market but eventually may disappear from the high Street.

MakeSomeMoney where is your source for "CD&R has asked that it be provided with more time to consider its options in response to the Increased Fortress Offer"

Hi SuperSonicBoom, have been preoccupied with Morrisons over the last 4 weeks, so haven't really looked at anything else. Pretty much out of them now so will look again next week.
Could be wrong on Evgen, but I'm just not feeling it.

I think Kight is loading up again, for whatever reason.
Should be confirmed in the next few days.

This has just cemented the 75% approval needed.
Still cant see Amazon joining the party.
CD&R, I think you have been outplayed, but I stand to be corrected.

BrightSideWalker you could always sell half your position and run the remaining to see what happens, at least that way, if the bid didn't get the necessary 75% approval and the price subsequently dropped to sub £2.00 in my opinion you'd be sitting on a nice healthy average price. If, in the unlikely scenario, in my opinion, all the players start to outbid themselves and this heads further north, you'll still benefit. It's a win win, but you do need to do something, nothing worse then seeing a profit evaporate in front of your eyes.

n1shares £2.90 to £3.00 offer would involve some serious asset stripping which in itself would encounter serious objections. £2.75 is definitely the sweet spot IMHO.
Everything will become clear in the next couple of weeks, just remember if it all falls through we would be looking at sub £2.00, therefore the risk/reward is totally weighted against Morrisons now.

This is all pointing to a £2.75 final offer price which would get the big boys blessing.
Don't get carried away with all the weekend press releases, they really don't know anymore then the rest of us.
I just can't see Amazon showing up to the party, but would be more then happy to be proved wrong.

This is all pointing to a £2.75 final offer price which would get the big boys blessing.
Don't get carried away with all the weekend press releases, they really don't know anymore than the rest of us.
I really can't see Amazon showing up to the party, but would be more then happy to be proved wrong.

Thank you for the tip Strode.
I see their management experienced the same fate as the Morrison Team when it came to pay increases.
Could well be a precursor to a take over.
Back to Morrisons, I think Fortress will just up their bid if it looks as if they will fail to gain enough support.
I'm sticking with a £2.75 final offer, which I feel will probably be acceptable to the big boys.

Forget about Amazon, they would have indicated some kind of interest by now.
They've got deep enough pockets, why waste your time on Morrisons, when you could easily afford Tesco.

Bidding war. CD&R is talking with potential equity partners on a fresh bid for Britain's Morrisons, people familiar said. An offer may come within days, aiming to beat the £6.3 billion Fortress proposal that has already been accepted. Apollo has said it's in talks to join the Fortress bid. BNP, Goldman and JPMorgan are advising CD&R.

My question is, do they come out with a similar sort of offer but with a lot more fanciful guarantees or lay all their cards out with a knock out bid with non of the sugar coating.

Mydog I would agree that the downside is so much greater then any further price increase. The likes of Amazon wouldn't need to up the bid by very much and would definitely be welcomed with open arms as it would be seen as a continuation of business. Real value and hence a higher offer can only be truly realised by fully asset striping the business which will not get approval hence the bids will remain low. The board could quite easily replicate what Fortress and Co are planning to do, and pay existing shareholders a special dividend, but they are clearly motivated by their multi million pound payouts imho. Having recently got a bloody nose for asking to high a salary increase, the same could well happen when they seek 75% approval.

Hearing Huw today you'd be surprised at where the share price sits.
If it has so much potential surely the board would be buying bucket loads or am I missing something.
Very good at delivering a great pitch, but until he backs his words with a substantial purchase its all bull Sh-- as far as I'm concerned.

Apollo in talks to join Fortress-led Morrisons bid
PATRICIA NILSSON, ARASH MASSOUDI AND SARAH PROVAN

Apollo has pulled out of the bidding war for Wm Morrison and is instead negotiating whether to join a Fortress-led offer for the UK’s fourth-largest supermarket chain.

A group of three private investment groups led by SoftBank-owned Fortress agreed a £9.5bn deal to acquire the grocer this month. Their successful bid came just two weeks after an unsolicited approach from US private equity firm Clayton, Dubilier & Rice.

Apollo had said it was also looking at Morrisons, sparking the possibility of a three-way bidding war.

But yesterday Apollo said it was no longer considering its own offer, stating that it was in “preliminary stages of discussions with Fortress” and “may” join the investment consortium.

“Apollo confirms that it does not intend to make an offer for Morrisons other than as part of the Fortress offer,” the private equity group said.

The Fortress-led group already includes backing from the Canadian pension fund CPPIB and a real-estate-focused investing arm of US conglomerate Koch Industries.

Its bid of 252p plus a special dividend of 2p values the equity of Morrisons at £6.3bn before the inclusion of £3.2bn of net debt.

The Fortress-led consortium is moving quickly to close the deal, according to two insiders. Morrisons aims to release a circular to shareholders before the month ends, after which a shareholder vote will be held in mid-August

Those plans could be disrupted if CD&R returns with a fresh offer. It has until the shareholder vote to improve its rejected bid, which valued Morrisons at £8.7bn including debt.

Shares in Morrisons fell slightly to 261p by yesterday’s close, but continue to trade above the Fortress-led group’s bid, a sign that investors believe the bidding war will continue.

If it decides to add Apollo to its investor group, Fortress would potentially have further firepower to fund its efforts.

Apollo has shown an interest in supermarkets before. In 2016, it struck a $1.36bn deal for US grocery chain Fresh Market and in recent days has filed paperwork to return the business to the US public market. It also made a failed tilt at UK chain Asda last year.

Before you build on that moneymunch, it was a joke.

Maybe his figured out that SFX-01 extends the life of ink cartridges.

Robert James Kight is a director of Printerland, I've looked up his address on company house 11 Warburton Drive, Hale barns, Altrincham, Cheshire, WA15 0SL. If you look up TR-1: Standard form for notification of major holdings, that Kight also has Hale as registered office. Its the same guy IMHO.