The battle to buy supermarket giant Morrisons will go to an auction process, the supermarket has confirmed.
The sale could replicate the Issa Brothers’ takeover of Asda, and will see the grocer exchange hands in the biggest shake-up since its acquisition of Safeway in 2004.
US private equity firm Clayton, Dubilier & Rice (CD&R) is vying with Fortress Investment Group, a vehicle backed by Japan’s Softbank conglomerate, for control of Britain’s fourth-biggest grocer.
The takeover panel today said on the basis that neither party has declared its offer final, a competitive situation continues to exist.
It said an auction procedure will take place on Saturday October 2, with a maximum of five rounds for the bidders to make their final offers.
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Morrisons
Morrisons then has up until the morning of October 5 to make a recommendation to shareholders from the final deals on the table, which the shareholders will vote on later that month on October 19.
Both sides have agreed all bids will be at a fixed cash price and cannot include stakes in other businesses or dividends to shareholders.
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If both sides are still bidding by the final round, Fortress must make its bid-per-share with an even number and CD&R with an odd number, to avoid the bids being the same.
The results will be published by Monday morning at the latest.
Earlier this month, Morrisons reported a 43% slump in half-year profits after COVID-19 costs took their toll and warned of price rises and product shortages amid current strains on supply chains.
UK News
Poundland facing ‘significant store closures’ after being sold for just £1
Danny Jones
Long-standing British bargain brand Poundland could be set to close a number of locations across the UK after being sold for just £1.
The franchise famed for selling things for just a quid has been a mainstay on the high streets for what feels like it’s been around for as long as most of us can remember, but has been struggling to compete in the discount market.
Opened in 1990, Poundland was eventually bought by Polish variety store chain Pepco Group back in 2016, but has now been auctioned off after struggling sales over the past few years.
As per a press release from the company, Pepco decided to sell the business to American investment firm Gordon Brothers for what reports cited as a “nominal fee” – a figure now revealed to be £1.
Credit: The Manc Group
Poundland’s former boss, Barry Williams, left the brand in 2023 but was reinstated in at the start of this year to help the business and the Group’s European counterparts (Pepco and Dealz).
Sharing an official update with The Manc, the returning MD and CEO said, “Poundland is a UK and Ireland retailer of real significance, serving 20 million customers each year with a much-loved brand.
“Although recent trading has been challenging, we have built a turnaround plan with a simplified and more focused Poundland at its heart, as we aim to deliver the amazing value our customers expect.
“In due course, we’ll share more details of the proposed restructuring and turnaround. I’d like to thank Pepco for its stewardship of the business. We welcome Gordon Brothers and look forward to working with them as we implement our turnaround plan.”
As for Gordon Bros themselves, the American group with outposts all over the globe, says it is “delighted” to be providing the bargain brand with “the financing to support the substantial turnaround of this iconic retailer.”
Even with their own hardships, Poundland stores have still been providing a much-needed cut-price place to shop for those looking to save wherever they can amid the cost of living crisis, not to mention taking over previous Wilko stores and helping bail out others in need.
Before Poundland were sold, they also helped prop-up those hit by the Wilkos falling into administration.
According to Retail Gazette, an approximate £80 million cash injection has been pledged to help support their 800 stores and roughly 16,000 staff across the UK and Ireland.
Nevertheless, BBC sources understand that the even with the new backing, the proposed restructuring of the company which will be put before the High Court here in England could still “involve a significant number of store closures.”
Meanwhile, an official statement from Pepco’s Stephan Borchert reads: “The agreed sale of Poundland marks an important milestone in our strategic plan to move away from FMCG and focus predominantly on Pepco, our higher margin clothing and general merchandise business…
“Poundland remains a key player in UK discount retail, with millions of customers annually and a well-loved brand and proposition. We want to sincerely thank Poundland for their ongoing commitment and contribution to the Group and wish Barry Williams and his team all the best for the future.”
Featured Images — Pepco (via Wikimedia Commons)/The Manc Group
UK News
A rare ‘Strawberry Moon’ will appear in the sky for the final time tonight – here’s when to catch it
Danny Jones
In the latest astronomical phenomenon to hit Britain and beyond in recent times, a rare ‘Strawberry Moon’ is set to appear once again in UK skies tonight, and you don’t want to miss it.
Put it this way: if you didn’t catch it last night, you won’t get another chance for nearly two decades.
The event only happens approximately every 18.6 years and will be the lowest it’s appeared above our part of the world that its been since 2006.
But for those who’ve never even heard of this, you might be wondering what exactly a Strawberry Moon is. We’re no experts, but this should just about fill you in.
Strawberry Moon 2025 – explained
Look up tonight for something sweet!
The full Strawberry Moon, named by the Algonquin tribes for the time of year that berries ripen, will take to the night skies on June 10-11. pic.twitter.com/GKr41bGUUV
Put in simplest terms, a Strawberry Moon occurs when the Moon reaches the extremes of its northernmost and southernmost rising and setting points on the horizon, creating a striking standstill impression to the human eye.
The name itself derives from native American culture and, in the case of June’s full Moon, it is dubbed as such not only because of its reddish hue but because it aligns with the start of summer and the beginning of strawberry harvest season.
Colliding with the summer solstice – with said standstill sometimes referred to as a ‘lunicstice’ – the moon will give more of an orange glow rather than pink or red like actual strawberries, but it’s nevertheless a stunning sight. It was already clocked across various parts of the globe since Monday:
— Veronica in the Fens 🧚🏼♀️ My Heart in Nature (@VeronicaJoPo) June 10, 2025
Why so low, moon-face?
As for why it’s going to loom so low over our skies this evening, UK archaeologist and historian Jennifer Wexler explained to BBC’s Sky At Night Magazine: “Over several years, the limits of moonrise and moonset themselves gradually change, until they reach the point where the northernmost and southernmost moonrise and moonset positions are at their maximum distance apart on the horizon…
“Once a major standstill is reached, the distance between northernmost and southernmost moonrise and moonset can be exceptionally far apart, and it stays that way for around two years.”
With all that in mind, this particular full Moon (10-11 June, 2025) will be the lowest full Moon in the sky for nearly two whole decades and won’t occur again until 2043, hence why so many have taken an interest in trying to catch it.
Speaking of…
When and where is best to see the Strawberry Moon in the UK?
Now, we won’t lie to you, Greater Manchester isn’t necessarily the best-placed area to see the upcoming Strawberry Moon in its full glory this Wednesday; the weather forecast has it that the skies are clearest right up at the top of England, as well as south-west Scotland.
However, provided there isn’t too much cloud coverage, it should still be visible across most regions, including the North West.
The moon is expected to rise around 9:30pm tonight, with the best window to see it appearing within the next hour or so following this period. It may not be as bright and bold as it appeared in some parts of the country on Tuesday, but it’ll still be something to behold.
In terms of what else meteorologists have said about the rest of this week, the weather is looking a bit all over the place, we’re afraid.
The Manc -
29th September 2021 
