including the american owner of majestic wine. last month the chain rejected an offer of 5 and a half billion pounds from a different firm, saying it significantly undervalued the business. our business correspondent katy austin has more. morrisons has nearly 500 stores and employs about 110,000 staff in the uk. the takeover offer that has been agreed is led by the us private equity group fortress. its bid is higher than one by a different firm which morrisons rejected last month. 0ne stockbroker told me the supermarket is seen as an attractive prospect right now. the main issue is i think they will feel the price is too low and there is value to be had. the company is profitable it s got very limited debt, it has got a good, popular business, it s got a good business model and the shares have done very little for the last five years, so i think they will genuinely think they are getting a bargain. so, would a takeover lead to any noticeable changes? morrisons owns most of its stores.
its bid is higher than one by a different firm which morrisons rejected last month. 0ne stockbroker told me the supermarket is seen as an attractive prospect right now. the main issue is i think they will feel the price is too low and there is value to be had. the company is profitable, it s got very limited debt, it has got a good, popular business, it s got a good business model, and the shares have done very little for the last five years, so i think they will genuinely think they are getting a bargain. so, would a takeover lead to any noticeable changes? morrisons owns most of its stores. would fortress perhaps look to sell some and lease them back? well, fortress has said it doesn t anticipate doing that. it s understood this and other commitments, for example on pay, were significant factors in the supermarket s board recommending the offer. fortress is really going out of its way to emphasise a different approach from private equity, a long term backing for the existing strategy
the celebrations are likely to continue long into the night. # it s coming home.# phil bodmer, bbc news, penistone. the supermarket giant morrisons has accepted a takeover deal worth £6.3 billion from a consortium of investment groups led by the american owner of majestic wine. our business correspondent katy austin reports. morrisons has nearly 500 stores and employs about 110,000 staff in the uk. the takeover offer its agreed, led by fortress investment group, is higher than one it rejected last month from a different firm. 0ne stockbroker told me the supermarket is seen as an attractive prospect. the main issue is i think they ll feel that the price is too low and that there s value to be had. the company is profitable, it s got very limited debt, it s got a good, popular business. it s got a good business model, and the shares have done very, very little for the last five years, so i think they ll genuinely think they re getting a bargain.
a takeover deal worth £6.3 billion from a consortium of investment groups, led by the american owner of majestic wine. our business correspondent katy austin reports. morrisons has nearly 500 stores and employs about 110,000 staff in the uk. the takeover offer it has agreed, led by fortress investment group, is higher that one it rejected last month from a different firm. 0ne stockbroker told me the supermarket is seen as an attractive prospect. the main issue is i think they will feel the price is too low and there is value to be had. the company is profitable, it s got very limited debt, it has got a good, popular business, it s got a good business model and the shares have done very little for the last five years, so i think they will genuinely think they are getting a bargain. more sins owns most of its sites. so would a new owner look to sell some and lease them back? fortress says it is not anticipating doing that. it is also made a series of other commitments on things like sta
morrisons has nearly 500 stores and employs about 110,000 staff in the uk. the takeover offer that has been agreed is led by the us private equity group fortress. its bid is higher than one by a different firm which morrisons rejected last month. 0ne stockbroker told me the supermarket is seen as an attractive prospect right now. the main issue is i think they will feel the price is too low and there is value to be had. the company is profitable it s got very limited debt, it has got a good, popular business, it s got a good business model and the shares have done very little for the last five years, so i think they will genuinely think they are getting a bargain. so, would a takeover lead to any noticeable changes? morrisons owns most of its stores. would fortress perhaps look to sell some and lease them back? well, fortress has said it doesn t anticipate doing that it. it s understood this and other commitments, for example on pay, would fortress perhaps look to sell some and lease t