Morrison's supermarket up for sale.

The board at Morrison's, Britain's fourth largest supermarket chain, has accepted a bid of £6.3 Billion/$8.7 Billion from U.S. investment group Fortress.

110,000 staff at nearly 500 stores most of which Morrison's own the freehold to will be included in the deal.

Fortress' bid is backed by funding from Canada Pension Plan and Koch real estate investments. Part of Koch industries.

LOTTA questions are likely to be asked by both UK government and the opposition as to why they want it and guarantees will be sought for the staff currently employed before government consents to the sale let alone if shareholders approve it.

https://www.bbc.co.uk/news/business-57705253

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SW-User

all the morrisons near me have shut

Picklebobble2 · 56-60, M

@SW-User Actually closed down ?
Over what period of time ?

SW-User

@Picklebobble2 yep 2 big superstores and at least 3 smaller ones over a couple of years.

Picklebobble2 · 56-60, M

@SW-User I wonder were they in close proximity to other big grocery stores ?

SW-User

@Picklebobble2 smile or two away o e shut first in the town centre
then the big one with the petrol station went now its knocked down and houses going on it

Picklebobble2 · 56-60, M

@SW-User I wonder then if this is more about a real estate deal rather than keeping a grocery business going.

Which was kinda the point of my post.

I wondered if having taken it over they might try and supply the supermarkets with their own suppliers !

Bleached chicken and all

Gangstress · 41-45, F

@Picklebobble2 real estate is the answer!

Picklebobble2 · 56-60, M

@Gangstress I’m not so sure.
Cameron tried to do a deal during Trump’s tenure.
Remember when Trump was chuntering on endlessly about trade deals ?

Part of Trump’s dealbreaker was about being able to offload bleached chicken, and when it made the news, a lot of people were annoyed since bleached chicken is considered below the current standard accepted for food safety.

If Kotch have the same idea and they know no other supermarkets would stock it, is it possible they intend to fill Morrison’s stores with produce that wouldn’t pass normal food standards ?

We have Boris in charge remember !

SW-User

@Picklebobble2 well Walmart have sold asda back to a British company that's one less chlorine dipped chicken on the shelves haha