The UK supermarket sector, which has benefitted hugely from a shift to online shopping during the pandemic, is set for a further shakeup with Morrisons heading for a multi-billion-pound takeover. Britain’s fourth biggest supermarket on Saturday said it had accepted a £6.3-billion ($8.7-billion, 7.3-billion-euro) takeover offer from a consortium of investment groups. And on Monday, […]
Takeover
UK supermarket Morrisons shares soar on £5.5bn bid
Shares in British supermarket chain Morrisons surged Monday after it rejected a £5.5-billion ($7.6-billion, 6.4-billion-euro) takeover approach as too low. The company’s share price rocketed almost a third to 231.80 pence in early deals, after it snubbed the unsolicited cash bid from US private equity firm Clayton, Dubilier & Rice (CD&R) over the weekend. Shares […]
Uber to buyout Careem for $3.1 billion
Uber is a leading transportation company, providing peer to peer ridesharing, food delivery, and a bicycle sharing system. Uber is now set to offer $3 billion to its competitor Careem, the Dubai based transportation company. The major backers of Careem are Rakuten Inc a Japanese e-commerce firm and the investment company of Saudi Prince Alwaleed […]