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    SDR   GB0002405495

SCHRODERS PLC

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Morrisons shareholder Schroders still mulling vote on Fortress takeover bid, CEO says

07/29/2021 | 05:41am EDT
A customer carries a shopping bag outside a Morrisons supermarket in New Brighton

LONDON (Reuters) -British money manager Schroders is still considering how it will vote at upcoming court and shareholder meetings on Fortress Investment Group's attempt to take over supermarket chain Morrisons, its chief executive told Reuters.

Morrisons this month agreed to a takeover led by SoftBank Group Corp-owned Fortress, which valued Britain's fourth-largest supermarket chain at 6.3 billion pounds ($8.8 billion) and topped a rival offer from Apollo.

But its largest shareholder Silchester has said it is not inclined to support the takeover offer.

Schroders, which is Morrisons' fifth-largest shareholder with a 4.8% stake, will make its decision known to the company and to the public once made, chief executive Peter Harrison said on Thursday.

"Our portfolio managers tell me that they are still considering their position (on Morrisons). We tend to take our time to make these decisions because these are important companies," he said. "But I am not wanting to comment on it yet because we are still in the midst of doing the work."

Private equity firms, many of which are awash with cash, have been hoovering up British companies in droves, with volumes at a record high this year so far compared with the same period in previous years.

($1 = 0.7168 pounds)

(Reporting by Abhinav Ramnarayan; editing by Tom Wilson)

By Abhinav Ramnarayan


ę Reuters 2021
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Financials
Sales 2021 2 430 M 3 321 M 3 321 M
Net income 2021 584 M 798 M 798 M
Net cash 2021 3 633 M 4 966 M 4 966 M
P/E ratio 2021 17,5x
Yield 2021 3,27%
Capitalization 9 381 M 12 824 M 12 822 M
EV / Sales 2021 2,37x
EV / Sales 2022 2,11x
Nbr of Employees 5 571
Free-Float 54,8%
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Schroders plc Technical Analysis Chart | SDR | GB0002405495 | MarketScreener
Technical analysis trends SCHRODERS PLC
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TrendsNeutralNeutralBullish
Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 18
Last Close Price 3 659,00 GBX
Average target price 3 679,88 GBX
Spread / Average Target 0,57%
EPS Revisions
Managers and Directors
Peter Harrison Group CEO & Executive Director
Richard Keers Chief Financial Officer & Executive Director
Michael William Romsey Dobson Chairman
Dame Elizabeth Corley Chairman-Designate
Ashley Lester Global Head-Research
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