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TESCO PLC

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UK competition regulator probes Clayton $10 billion deal for Morrisons

01/27/2022 | 02:54am EDT
The illuminated logo shines above the wet car park of a Morrisons supermarket store in Croydon

(Adds dropped "s" to Morrisons in headline and first paragraph)

LONDON (Reuters) - Britain's competition regulator has formally opened an investigation into whether a takeover by U.S. private equity firm Clayton, Dubilier & Rice Holdings (CD&R) of Morrisons will reduce choice for supermarket customers in the country.

The Competition and Markets Authority said on Thursday it had launched a merger inquiry, inviting comments from interested parties and giving a deadline of March 24 for a preliminary decision.

CD&R, which has former Tesco boss Terry Leahy as a senior adviser, won an auction for Morrisons on Oct. 2, bidding a penny a share more than a consortium led by Softbank-owned Fortress Investment Group.

(This story refiles to add dropped "s" to Morrisons in headline and first paragraph).

(Reporting by Andres Gonzalez; Editing by Rachel Armstrong)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
SOFTBANK GROUP CORP. 3.50% 5232 Delayed Quote.-6.97%
TESCO PLC 2.04% 260.3 Delayed Quote.-12.00%
ZR (ZR) - CBE (ELECTRONIC)/C1 1.56% 17.25 End-of-day quote.16.10%
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Analyst Recommendations on TESCO PLC
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Financials
Sales 2023 62 628 M 78 066 M 78 066 M
Net income 2023 1 540 M 1 919 M 1 919 M
Net Debt 2023 10 697 M 13 334 M 13 334 M
P/E ratio 2023 12,2x
Yield 2023 4,13%
Capitalization 19 646 M 24 488 M 24 488 M
EV / Sales 2023 0,48x
EV / Sales 2024 0,47x
Nbr of Employees 345 000
Free-Float 98,0%
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Mean consensus OUTPERFORM
Number of Analysts 19
Last Close Price 260,30 GBX
Average target price 313,43 GBX
Spread / Average Target 20,4%
EPS Revisions
Managers and Directors
Ken Murphy Group Chief Executive Officer & Director
Imran Nawaz Chief Financial Officer & Director
John Murray Allan Non-Executive Chairman
Guus Dekkers Chief Technology Officer
Byron Elmer Grote Senior Independent Non-Executive Director
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