Morrisons' bidding war: buyers promising to do right by staff and customers are wearily familiar
By Steven McCabe, Associate Professor, Institute for Design, Economic Acceleration & Sustainability (IDEAS), Birmingham City University
British supermarkets are generally viewed as a sound investment for those wanting steady if not spectacular returns. Shoppers may regard them as essential, especially during the pandemic, but over the years their asset worth has not risen comparable to, for example, tech stocks.
This may be about to change because of the “bidding war” currently underway for supermarket chain Wm Morrisons. The fourth-largest chain in the UK after Tesco, Sainsbury’s and Asda, with 10% of the groceries market, Bradford-based Morrisons is being pursued by several American private-equity suitors.
Read complete article
© The Conversation
- Monday, July 5, 2021