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Showing results for Morrison Engergy Group LLC
...In May, Pimco bought more than €500mn of debt backing the buyout of British supermarket Morrisons, which a group of banks led by Goldman Sachs sold at 85 cents on the euro....
...It also spent almost $17mn on legal fees, primarily benefiting its main legal adviser Morrison & Foerster....
...Ministers will request a meeting with executives at UK supermarket chain Wm Morrison over a pending £9.5bn takeover by a group of private equity firms, seeking reassurances over jobs and investment....
...consulting boom (FT) Melrose to spin off auto business in GKN break-up (FT + Lex) Steve Bannon indicted for alleged fundraising fraud (FT) Evergrande crisis deepens after lender seizes headquarters (FT) Morrisons...
...Morrisons has appointed its operations development director Joanna Goff as chief financial officer as the supermarket chain prepares for a major refinancing after being taken over by US private equity group...
...That has made financing a leveraged buyout more difficult, especially as banks have struggled to sell on the debt backing another large UK private equity deal, the acquisition of supermarket group Wm Morrison...
...It also marks the latest high-profile target that Apollo has circled in the UK without ultimately striking a deal, having previously considered buying supermarkets Asda, and Wm Morrison....
...CD&R has pledged to retain the group’s existing management team — many of whom worked with Leahy at Tesco — and uphold the legacy of Sir Ken Morrison, the son of the group’s founder who transformed it into...
...Waste management group Augean got a bump of almost a tenth when bidders went to auction last month. A similar increase for Morrisons would take the purchase price to 314 pence per share....
...supermarkets to a national group....
...underwrote such a deal was when Goldman Sachs, Bank of America, BNP Paribas and Mizuho Bank agreed to provide £6.6bn of bridge loans to back Clayton, Dubilier & Rice’s take-private of the supermarket chain Wm Morrison...
...Morrisons’ stock is at 292p, above the 285p per share that private equity group CD&R offered last month....
...Even more so if there is an auction of the kind already deciding the fate of inhalers group Vectura. These spawn no bargains....
...“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 added....
...The group’s last bid for Morrisons had secured the backing of the retailer’s board, but it provoked opposition from shareholders....
...Toscafund succeeded in blocking the takeover of hospital group Spire Healthcare this month, a rare defeat for a recommended UK deal....
...The UK takeover regulator has given Clayton, Dubilier & Rice an extended August 20 deadline to make an offer for Wm Morrison, in the latest twist in a bidding war between two US private equity groups for...
...The board’s decision to recommend a £9.3bn offer from a consortium led by Fortress Investment Group was partly driven by the private equity group’s pledge to honour the legacy of Ken Morrison....
...The Fortress group said it would assess options for the future of Morrisons’ petrol stations within six months of finalising a deal....
...The group, which is led by Fortress, a US-based group owned by SoftBank, said on Wednesday that GIC would provide £100m of funding towards its £9.5bn offer for the grocer....
...Private equity rivals are increasingly piling into each other’s deals; witness the battle for UK supermarket Wm Morrison....
...In another recent example of the large premiums being paid by private equity, US group Clayton, Dubilier & Rice this month agreed to buy the UK supermarket Wm Morrison at a 61 per cent premium to the share...
...overcomes supply chain woes to boost profit margins (FT + Lex) Reckitt Benckiser shares hit as boom in cleaning products moderates (FT) Former Glencore trader pleads guilty to role in bribery scheme (FT) Morrisons...
...It warned that would set a damaging precedent and privilege one group of content providers — news media groups — over others....
...Scott Morrison, Australia’s prime minister, spoke to Sundar Pichai, the chief executive of Google and its parent company Alphabet, on Thursday....
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