Pandemic predators face investor backlash: Morrisons suitor may be forced to raise offer in separate bid battle
Clayton Dubilier & Rice said it could lift its bid for FTSE250 member UDG Healthcare from £2.6billion to £2.7billion – or from 1023p a share to 1080p
Such a move would be unusual since UDG s board had already backed the lower offer - but shareholders were outraged and have forced CD&R to reconsider
The private equity firm was also told its £5.5billion bid for Morrisons is too low – by the board and by shareholders
Can you give a brief overview of your strategy in terms of what you are trying to achieve for investors, your investment process and the make-up of the investment team?
The M&G UK Select fund seeks to identify businesses of the future rather than legacies of the past and therefore looks for high quality sustainable growth businesses which will compound economic profit into the future. We run an active and high-conviction stockpicking fund of 30-50 holdings which tend to be businesses with high returns, robust competitive advantages, sustainable growth tailwinds and a disciplined capital allocation, as evidenced by a progressive dividend. We look to take advantage of the market mispricing a company s future value creation and our bucket approach between cyclical, defensive and future compounders allows a flexibility across the quality spectrum, that can help the fund perform in different market conditions. We take a fully ESG integrated approach to investing with the monitoring of ES
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Wall Street estimates haven’t budged for Zoom in months and the stock is trading around 27% below its 2020 peak. Amazon has flat-lined since September, with news of surging sales and profit eliciting shrugs from analysts. There are similarities in Europe. Delivery Hero is about 16% below a January peak, while France’s Ubisoft Entertainment SA and UK online grocer Ocado Group Plc have fallen back after results failed to provide fresh catalysts. But some of the region’s pandemic winners have continued to prosper, suggesting a more selective approach among investors. Payments firm Adyen NV, which surged over 160% in 2020, and Swedish online casino operator Evolution Gaming Group AB, which almost tripled last year, have continued to hit records on an almost daily basis. German meal-kit company HelloFresh SE is another that has extended gains in 2021.