Singapore Wealth Fund Joins Fortress’s Bid for Morrison

Bloomberg2021-07-29

(Bloomberg) -- Singapore’s sovereign wealth fund is joining Fortress Investment Group’s 6.3 billion-pound ($8.8 billion) bid for Wm Morrison Supermarkets Plc as the battle for Britain’s fourth-largest...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Soksok
2021-07-29
Soksok
Good
LuckyLucky
2021-07-29
LuckyLucky
...
- LuckyLucky:
  ..
- LuckyLucky:
  ..
Caro2020
2021-07-29
Caro2020
SG sgd
vinitino
2021-07-29
vinitino
Good
Sylvielove
2021-07-29
Sylvielove
Ok
- Sylvielove:
  Ok
bran1711
2021-07-29
bran1711
What a great read. Provide great idea on the market right now! Thanks for the article

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1143039752?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2021-07-29 10:11","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1143039752","market":"us","top_or_hot":-1,"title":"Singapore Wealth Fund Joins Fortress’s Bid for Morrison","media":"Bloomberg","content":"<div>\n<p>(Bloomberg) -- Singapore’s sovereign wealth fund is joining Fortress Investment Group’s 6.3 billion-pound ($8.8 billion) bid for Wm Morrison Supermarkets Plc as the battle for Britain’s fourth-largest...</p>\n\n<a href=\"https://finance.yahoo.com/news/singapore-sovereign-wealth-fund-joins-093806189.html\">Source Link</a>\n\n</div>\n","source":"lsy1612507957220","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Wealth Fund Joins Fortress’s Bid for Morrison</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Wealth Fund Joins Fortress’s Bid for Morrison\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-29 10:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/singapore-sovereign-wealth-fund-joins-093806189.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Singapore’s sovereign wealth fund is joining Fortress Investment Group’s 6.3 billion-pound ($8.8 billion) bid for Wm Morrison Supermarkets Plc as the battle for Britain’s fourth-largest...</p>\n\n<a href=\"https://finance.yahoo.com/news/singapore-sovereign-wealth-fund-joins-093806189.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MRWSF","symbol_name":"WM Morrison Supermarkets Plc.","start_time":0,"source_url":"https://finance.yahoo.com/news/singapore-sovereign-wealth-fund-joins-093806189.html","article_id":"1143039752","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1143039752","pubTimestamp":1627524678,"columns":[],"sourceInfo":{"source_id":"lsy1612507957220","name":"finance.yahoo"},"weMediaInfo":null,"summary":"(Bloomberg) -- Singapore’s sovereign wealth fund is joining Fortress Investment Group’s 6.3 billion-","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"MRWSF":"WM Morrison Supermarkets Plc."},"translate_title":"新加坡财富基金加入堡垒竞购莫里森","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MRWSF":0.9},"content_text":"(Bloomberg) -- Singapore’s sovereign wealth fund is joining Fortress Investment Group’s 6.3 billion-pound ($8.8 billion) bid for Wm Morrison Supermarkets Plc as the battle for Britain’s fourth-largest grocer heats up.\nCambourne Life Investment Pte Ltd, a subsidiary of GIC, will join Fortress as co-investor alongside America’s billionaire Koch family and the Toronto-based Canada Pension Plan Investment Board, according to a statement on Wednesday.\nGIC is already a small investor in Morrison. It will purchase a 3% stake for 100 million pounds ($139 million) to help finance what could be Britain’s largest take-private deal in a decade. About 51% of the roughly 3 billion pounds of equity needed to fund the takeover will come from Fortress with CPP providing 31% and the real estate arm of Koch Industries providing 15%.\nHSBC Holdings Plc and Royal Bank of Canada are providing debt funding. Apollo Global Management Inc., another private equity group, said last week it was considering joining forces with Fortress, meaning there could potentially be a fifth equity investor in the consortium.\nThe move by GIC comes just a day after Morrison’s largest shareholder, Silchester International, voiced opposition to Fortress’s offer of 254 pence-a-share, including a dividend. Silchester objects to the structure of the takeover and the timetable for completion which it said has given “insufficient opportunity for competing bids to emerge.”\nMorrison shares were little changed at 266 pence a share, higher than Fortress’s offer.\nCD&R Counteroffer?\nGIC’s decision to back the Fortress bid will put pressure on private equity firm Clayton, Dubilier & Rice LLC, whose 230 pence-per-share bid was previously rejected by Morrison. CD&R is still assessing whether to come back with a higher offer. The private equity group, whose bid is being led by Terry Leahy, a former chief executive officer of Britain’s largest grocer Tesco Plc, is speaking with some of the investors in its funds - known as limited partners - on a fresh bid, according to people close to the situation.\nUnder British takeover rules, CD&R has until Aug. 9 to decide whether to make a counteroffer. A shareholder vote on the Fortress bid is set for Aug. 16\nMorrison is attracting interest as it owns about 90% of its almost 500 stores, as well as manufacturing sites. The property portfolio was last valued at about 6 billion pounds.\nThe business, whose turnaround has been led by Chief Executive Officer Dave Potts, generates large amounts of cash and its finances are solid with low underlying debt and a pension surplus. The fortunes of leading supermarket chains are also improving after lockdowns triggered a surge in grocery spending, particularly online.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":801411265,"gmtCreate":1627527487757,"gmtModify":1703491727413,"author":{"id":"3579684763801587","authorId":"3579684763801587","name":"Soksok","avatar":"https://static.tigerbbs.com/03c4a8d2787d3c5042bccff3b0bb60f1","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3579684763801587","idStr":"3579684763801587"},"htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/801411265","repostId":1143039752,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":801495006,"gmtCreate":1627526505505,"gmtModify":1703491703511,"author":{"id":"4087558306753550","authorId":"4087558306753550","name":"LuckyLucky","avatar":"https://static.tigerbbs.com/7f6923176f885b4cc7c0299b6e1ec22e","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"4087558306753550","idStr":"4087558306753550"},"htmlText":"...","listText":"...","text":"...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/801495006","repostId":1143039752,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5364903,"gmtCreate":1627526514788,"gmtModify":1663231652938,"authorId":4087558306753550,"author":{"id":4087558306753550,"idStr":"4087558306753550","authorId":4087558306753550,"name":"LuckyLucky","avatar":"https://static.tigerbbs.com/7f6923176f885b4cc7c0299b6e1ec22e","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":801495006,"type":1,"supId":0,"prevId":0,"content":"..","text":"..","html":".."},{"id":5364904,"gmtCreate":1627526525967,"gmtModify":1663231652834,"authorId":4087558306753550,"author":{"id":4087558306753550,"idStr":"4087558306753550","authorId":4087558306753550,"name":"LuckyLucky","avatar":"https://static.tigerbbs.com/7f6923176f885b4cc7c0299b6e1ec22e","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":801495006,"type":1,"supId":5364903,"prevId":0,"content":"..","text":"..","html":".."}],"langContent":"EN"},{"id":801407676,"gmtCreate":1627526073995,"gmtModify":1703491693248,"author":{"id":"3562496840317503","authorId":"3562496840317503","name":"Caro2020","avatar":"https://static.tigerbbs.com/300a217741a0a84040b8f10aa5263c0a","vip":1,"crmLevel":4,"crmLevelSwitch":0,"authorIdStr":"3562496840317503","idStr":"3562496840317503"},"htmlText":"SG sgd&nbsp;","listText":"SG sgd&nbsp;","text":"SG sgd","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/801407676","repostId":1143039752,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":801401505,"gmtCreate":1627525748607,"gmtModify":1703491684240,"author":{"id":"3580554897972026","authorId":"3580554897972026","name":"vinitino","avatar":"https://static.tigerbbs.com/adbf1b7ac29a6eb1ef491d252fa0eb0b","vip":1,"crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3580554897972026","idStr":"3580554897972026"},"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/801401505","repostId":1143039752,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":801409991,"gmtCreate":1627525590413,"gmtModify":1703491680667,"author":{"id":"3576366006878603","authorId":"3576366006878603","name":"Sylvielove","avatar":"https://static.tigerbbs.com/241c967bf9f15479f334b62cdbab75b3","vip":1,"hat":"https://static.tigerbbs.com/ae1f49570794979e009a5efdeb6f4789","crmLevel":5,"crmLevelSwitch":1,"authorIdStr":"3576366006878603","idStr":"3576366006878603"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/801409991","repostId":1143039752,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5364798,"gmtCreate":1627525605251,"gmtModify":1663231652843,"authorId":3576366006878603,"author":{"id":3576366006878603,"idStr":"3576366006878603","authorId":3576366006878603,"name":"Sylvielove","avatar":"https://static.tigerbbs.com/241c967bf9f15479f334b62cdbab75b3","vip":1,"crmLevel":5,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":801409991,"type":1,"supId":0,"prevId":0,"content":"<u>Ok</u>","text":"<u>Ok</u>","html":"<u>Ok</u>"}],"langContent":"EN"},{"id":801574434,"gmtCreate":1627525497428,"gmtModify":1703491677592,"author":{"id":"4087890727315560","authorId":"4087890727315560","name":"bran1711","avatar":"https://static.tigerbbs.com/930bbc63ea8cde1a8d25338b24e6c5b9","vip":1,"crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"4087890727315560","idStr":"4087890727315560"},"htmlText":"What a great read. Provide great idea on the market right now! Thanks for the article&nbsp;","listText":"What a great read. Provide great idea on the market right now! Thanks for the article&nbsp;","text":"What a great read. Provide great idea on the market right now! Thanks for the article","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/801574434","repostId":1143039752,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":54,"commentSize":10,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1143039752"}