Trump to Announce New Federal Reserve Chair Pick as Powell Replacement Looms 
Oil Prices Surge Toward Biggest Monthly Gains in Years Amid Middle East Tensions 
Thailand Moves to Regulate Gold Trading to Curb Baht Strength and Support Economic Growth 
Meta Stock Surges After Q4 2025 Earnings Beat and Strong Q1 2026 Revenue Outlook Despite Higher Capex 
Trump Threatens Aircraft Tariffs as U.S.-Canada Jet Certification Dispute Escalates 
South Korea Industry Minister Heads to Washington Amid U.S. Tariff Hike Concerns 
Asian Currencies Hold Firm as Dollar Rebounds on Fed Chair Nomination Hopes 
Dollar Struggles as Policy Uncertainty Weighs on Markets Despite Official Support 
Chinalco and Rio Tinto Acquire Controlling Stake in Brazil’s CBA for $903 Million 
Panama Supreme Court Voids CK Hutchison Port Concessions, Raising Geopolitical and Trade Concerns 
Puma’s Historic Rivalry With Adidas Enters a New Era as Anta Deal Signals Turnaround Push 
Pentagon and Anthropic Clash Over AI Safeguards in National Security Use 
Advantest Shares Hit Record High on Strong AI-Driven Earnings and Nvidia Demand 
Google Halts UK YouTube TV Measurement Service After Legal Action 
OpenAI Reportedly Eyes Late-2026 IPO Amid Rising Competition and Massive Funding Needs 
U.S. Stock Futures Edge Lower as Tech Earnings and Fed Decision Shape Market Sentiment 
Apple Earnings Beat Expectations as iPhone Sales Surge to Four-Year High 
Morrisons, the supermarket chain in the United Kingdom, finally agreed to an acquisition offer from the American investment management company Fortress Investment Group. It was said that Britain’s fourth-largest supermarket company received an offer of £6.3 billion or $8.7 billion for the takeover.
As per Reuters, Fortress Investment Group’s proposal is supported by the Canada Pension Plan Investment Board and Koch Real Estate Investments, and its offer to Morrisons surpassed the £5.52 billion that Clayton, Dubilier & Rice (CD&R), an American private equity firm, previously offered. The British company did not accept this price in June and stated it is way too low.
The deal with Morrisons
It was reported that under Morrisons and Fortress’s deal, the former’s shareholders will be given 254 pence a share. The 252 will be in cash, while the remaining two pence will be cash dividends. The supermarket company that rivals other leading stores in the U.K., including Tesco, Asda, and Sainsbury, stated that Fortress’ offer is equivalent to a premium of 42% to Morrisons’ closing stock price of 178 pence on June 18.
It was revealed that Fortress actually made four proposals already before its offer reached 254 per share on June 5. Apparently, the proposals were not made public.
The company rejected the offer last month of £5.5 billion as it is too low. Morrisons said this price considerably undervalued the business, and on the other hand, the latest offer from Fortress Investment Group was fair; thus, the company ended up accepting the proposal.
The investors’ approval of the takeover
Andrew Higginson, Morrisons’ chairman, explained the amount is just right as they own almost 500 shops across the United Kingdom. Plus, the grocery chain is confident the company will further grow, so the proposal is just right.
While Morrisons already accepted Fortress’s offer, BBC News reported that it is still subject to the stockholders’ approval. The supermarket chain’s directors have already voted unanimously, and they have to recommend this to the shareholders, and they must approve as well for the deal to proceed. Finally, the officials are now hoping that the negotiations will go well and the deal will be completed soon.
