Jun 21, 2021
Morrisons bid highlights the tricky business of stakeholder M&A
A Labour shadow business minister applauded the role of supermarkets during the pandemic, while questioning "Dodgy private equity firms". As it stands, there is no bid to concern Morrisons. Morrisons has generally commanded a premium valuation thanks to its stronger balance sheet. In the competitive, low-margin business of UK food retail, Morrisons is behind in important areas such as online and convenience. The board should be asking for guarantees on investment and jobs: Morrisons employs almost 120,000 people, compared with AstraZeneca's 7,500 seven years ago.
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