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2021-06-22
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American investors are trying to buy a UK supermarket. Here's why<blockquote>美国投资者正试图收购一家英国超市。原因如下</blockquote>
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Here's why<blockquote>美国投资者正试图收购一家英国超市。原因如下</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1116834236","media":"cnn","summary":"London Britain's fourth biggest supermarket chain Morrisons has become the takeover target of an American private equity firm in the latest sign of a strong appetite among investors for UK assets.Morrisons confirmed over the weekend that New York-headquartered Clayton, Dubilier & Rice last week made an unsolicited offer of 2.30 per share in cash for the grocery retailer. That's a 29% premium to Morrisons' closing price on Friday, giving it a market value of around 5.5 billion .Shares in the co","content":"<p>London (CNN Business)Britain's fourth biggest supermarket chain Morrisons has become the takeover target of an American private equity firm in the latest sign of a strong appetite among investors for UK assets.</p><p><blockquote>伦敦（CNN Business）英国第四大连锁超市莫里森 (Morrisons) 已成为一家美国私募股权公司的收购目标，这是投资者对英国资产兴趣强烈的最新迹象。</blockquote></p><p> Morrisons confirmed over the weekend that New York-headquartered Clayton, Dubilier & Rice last week made an unsolicited offer of £2.30 ($3.19) per share in cash for the grocery retailer. That's a 29% premium to Morrisons' (MRWSF) closing price on Friday, giving it a market value of around £5.5 billion ($7.6 billion).</p><p><blockquote>莫里森周末证实，总部位于纽约的 Clayton, Dubilier & Rice 上周主动向这家杂货零售商提出了每股 2.30 英镑（3.19 美元）的现金报价。这比 Morrisons (MRWSF) 周五的收盘价溢价 29%，市值约为 55 亿英镑（76 亿美元）。</blockquote></p><p> Shares in the company surged more than 30% in London on Monday, taking the share price above the takeover offer and lifting other stocks in the sector. Sainsbury's (JSNSF) and Ocado (OCDDY) climbed over 4%, with Marks & Spencer (MAKSY) rising nearly 3% and Tesco (TSCDF) up more than 1%.</p><p><blockquote>周一，该公司股价在伦敦飙升超过 30%，股价高于收购要约，并提振了该行业的其他股票。Sainsbury's (JSNSF) 和 Ocado (OCDDY) 上涨超过 4%，Marks & Spencer (MAKSY) 上涨近 3%，Tesco (TSCDF) 上涨超过 1%。</blockquote></p><p> Morrisons rejected the proposal in its statement on Saturday, saying that it \"significantly undervalued\" the company and its future prospects. Clayton, Dubilier & Rice now has until July 17 to make a firm offer.</p><p><blockquote>莫里森在周六的声明中拒绝了该提议，称其“严重低估”了该公司及其未来前景。Clayton, Dubilier & Rice 现在必须在 7 月 17 日之前提出确定报价。</blockquote></p><p> The move comes amid heightened investor activity in UK retail and a spate of takeover bids for British companies, undervalued for years because of poor returns linked to drab growth and a weak pound following the Brexit referendum of 2016.</p><p><blockquote>此举出台之际，英国零售业投资者活动加剧，英国公司遭到大量收购，多年来，由于增长乏力以及 2016 年英国脱欧公投后英镑疲软导致回报不佳，这些公司的估值多年来一直被低估。</blockquote></p><p> In October, Walmart (WMT) sold supermarket chain Asda to European private equity group TDR Capital and the founders of a global convenience store business. Separately, Czech billionaire Daniel Kretinsky recently increased his stake in Sainsbury's to 10%, adding to speculation that it could be the next takeover target.</p><p><blockquote>10 月，沃尔玛 (WMT) 将连锁超市 Asda 出售给欧洲私募股权集团 TDR Capital 和一家全球便利店业务的创始人。另外，捷克亿万富翁丹尼尔·克雷廷斯基 (Daniel Kretinsky) 最近将其在 Sainsbury's 的股份增至 10%，这加剧了人们对其可能成为下一个收购目标的猜测。</blockquote></p><p> Analysts are speculating that Tesco, Britain's biggest supermarket chain, might also attract a buyer.</p><p><blockquote>分析师推测，英国最大的连锁超市乐购也可能吸引买家。</blockquote></p><p> \"The volume of liquidity, reflecting monetary policy, and the uptake of capital by family offices, high net worth investors and private equity, means that even Tesco, with its £18 billion ($25 billion) market capitalization, is not too big to be subject to an offer,\" Clive Black, head of research at Shore Capital said in a note on Monday.</p><p><blockquote>“流动性数量反映了货币政策，以及家族理财室、高净值投资者和私募股权对资本的吸收，这意味着即使是市值达 180 亿英镑（250 亿美元）的乐购，也不会太大，无法接受要约，”Shore Capital 研究主管 Clive Black 在周一的一份报告中表示。</blockquote></p><p> Sainsbury's and Tesco, which benefited from a surge in demand during lockdowns, are now poised to benefit from a strong economic recovery in Britain following the pandemic. Analysts say shoppers are likely to continue eating more meals at home even with restaurants reopening, particularly as many offices remain closed.</p><p><blockquote>塞恩斯伯里百货 (Sainsbury's) 和特易购 (Tesco) 受益于封锁期间需求激增，现在也准备受益于大流行后英国的强劲经济复苏。分析师表示，即使餐馆重新开业，购物者也可能继续在家吃更多的饭，特别是在许多办公室仍然关闭的情况下。</blockquote></p><p> Tesco CEO Ken Murphy told analysts on a call on Friday that online demand has been \"incredibly resilient even with the easing of restrictions.\"</p><p><blockquote>乐购首席执行官肯·墨菲 (Ken Murphy) 周五在看涨期权上对分析师表示，即使限制放松，在线需求“仍然具有令人难以置信的弹性”。</blockquote></p><p> \"We expect sales to remain well above pre Covid-19 level through the remainder of the year,\" he added.</p><p><blockquote>“我们预计今年剩余时间内销售额将远高于 Covid-19 之前的水平，”他补充道。</blockquote></p><p> Both leading retailers have also managed to keep costs under control, are generating large amounts of cash and have narrowed price gaps with German discounters Aldi and Lidl, according to Shore Capital's Black.</p><p><blockquote>Shore Capital 的 Black 表示，两家领先的零售商还设法控制了成本，产生了大量现金，并缩小了与德国折扣店 Aldi 和 Lidl 的价格差距。</blockquote></p><p> This could make them prime targets for the likes of Amazon (AMZN), he added. \"The Asda bid and the Kretinsky investment means that the topic of Amazon's plans will also be one of ongoing discussion around Sainsbury and Tesco,\" Black said.</p><p><blockquote>他补充说，这可能会使它们成为亚马逊 (AMZN) 等公司的主要目标。布莱克表示：“阿斯达的收购和克雷廷斯基的投资意味着亚马逊计划的话题也将成为围绕塞恩斯伯里和乐购正在进行的讨论之一。”</blockquote></p><p> The online retailer, which has been expanding its grocery offering since buying Whole Foods in 2017, already has a close relationship with Morrisons, which supplies its Prime and Pantry customers in the United Kingdom with dry, fresh and frozen products.</p><p><blockquote>这家在线零售商自2017年收购全食超市以来一直在扩大其杂货产品，已经与莫里森建立了密切的关系，莫里森为其在英国的Prime和Pantry客户提供干、新鲜和冷冻产品。</blockquote></p><p> But the market is not betting on a rival bid from Amazon. \"There is no indication in the [Morrisons] share price today that Amazon will come in and outbid Clayton, Dubilier & Rice,\" said Russ Mould, investment director at stockbroker AJ Bell.</p><p><blockquote>但市场并没有押注亚马逊的竞争对手出价。股票经纪人 AJ Bell 投资总监 Russ Mould 表示：“今天的 [Morrisons] 股价没有迹象表明亚马逊会出价超过 Clayton, Dubilier & Rice。”</blockquote></p><p> With a languishing share price and over £7 billion ($9.7 billion) in assets, including a real estate portfolio worth more than the company's market value, Morrisons \"ticks a lot of private equity boxes,\" he told CNN Business.</p><p><blockquote>他告诉美国有线电视新闻网商业频道，由于股价低迷，资产超过 70 亿英镑（97 亿美元），其中包括价值超过公司市值的房地产投资组合，莫里森“符合很多私募股权条件”。</blockquote></p><p> Returning to favor?</p><p><blockquote>回报？</blockquote></p><p> Investor interest in UK assets extends beyond grocers. There have been over 50 bids for UK-listed companies in the last eight months, only six of which have since been abandoned, according to Mould.</p><p><blockquote>投资者对英国资产的兴趣不仅限于杂货商。据 Mould 称，过去八个月里，英国上市公司收到了 50 多份竞标，其中只有 6 份被放弃。</blockquote></p><p> The average premium offered has been 34%, indicating that many of these companies may be undervalued by the market following years of weak shareholder returns. Over the last 12 months, there have been 95 announced offers for UK-listed companies with a combined value of $107 billion, according to Dealogic data.</p><p><blockquote>平均溢价为 34%，这表明在多年股东回报疲软之后，其中许多公司可能被市场低估。Dealogic 数据显示，过去 12 个月，英国上市公司宣布了 95 项要约，总价值达 1070 亿美元。</blockquote></p><p> \"The UK has consistently underperformed on the global stage since June 2016's Brexit vote and sterling has failed to regain the levels at which it traded before Britain decide to leave the EU,\" Mould said in a recent note. \"That rotten effort may mean that UK stocks are unloved and therefore potentially undervalued,\" he added.</p><p><blockquote>莫尔德在最近的一份报告中表示：“自 2016 年 6 月脱欧公投以来，英国在全球舞台上的表现一直不佳，英镑也未能恢复到英国决定脱欧之前的交易水平。”“这种糟糕的努力可能意味着英国股市不受欢迎，因此可能被低估，”他补充道。</blockquote></p><p> UK and European stock market indexes stand to benefit from the post-pandemic recovery, given the high representation of companies such as automakers and banks that perform well when the economy is on the upswing.</p><p><blockquote>鉴于汽车制造商和银行等公司在经济上升时表现良好，英国和欧洲股市指数将受益于大流行后的复苏。</blockquote></p><p></p><p> They may also offer better value for investors following much more robust gains in US indexes over the past decade, when European markets have been held back by a dearth of tech companies and lackluster economic growth in the region.</p><p><blockquote>在过去十年美国指数大幅上涨之后，它们也可能为投资者提供更好的价值，而当时欧洲市场因缺乏科技公司和该地区经济增长乏力而受到阻碍。</blockquote></p><p> The FTSE 100 (UKX) has climbed just 26% over the past decade, while Europe's STOXX 600 (SXXL) is up 85%. That compares with a gain of more than 230% for the S&P 500 (SPX).</p><p><blockquote>富时 100 指数 (UKX) 在过去十年中仅上涨了 26%，而欧洲斯托克 600 指数 (SXXL) 则上涨了 85%。相比之下，标普500 (SPX) 的涨幅超过 230%。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>American investors are trying to buy a UK supermarket. Here's why<blockquote>美国投资者正试图收购一家英国超市。原因如下</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAmerican investors are trying to buy a UK supermarket. Here's why<blockquote>美国投资者正试图收购一家英国超市。原因如下</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">cnn</strong><span class=\"h-time small\">2021-06-22 11:42</span>\n</p>\n</h4>\n</header>\n<article>\n<p>London (CNN Business)Britain's fourth biggest supermarket chain Morrisons has become the takeover target of an American private equity firm in the latest sign of a strong appetite among investors for UK assets.</p><p><blockquote>伦敦（CNN Business）英国第四大连锁超市莫里森 (Morrisons) 已成为一家美国私募股权公司的收购目标，这是投资者对英国资产兴趣强烈的最新迹象。</blockquote></p><p> Morrisons confirmed over the weekend that New York-headquartered Clayton, Dubilier & Rice last week made an unsolicited offer of £2.30 ($3.19) per share in cash for the grocery retailer. That's a 29% premium to Morrisons' (MRWSF) closing price on Friday, giving it a market value of around £5.5 billion ($7.6 billion).</p><p><blockquote>莫里森周末证实，总部位于纽约的 Clayton, Dubilier & Rice 上周主动向这家杂货零售商提出了每股 2.30 英镑（3.19 美元）的现金报价。这比 Morrisons (MRWSF) 周五的收盘价溢价 29%，市值约为 55 亿英镑（76 亿美元）。</blockquote></p><p> Shares in the company surged more than 30% in London on Monday, taking the share price above the takeover offer and lifting other stocks in the sector. Sainsbury's (JSNSF) and Ocado (OCDDY) climbed over 4%, with Marks & Spencer (MAKSY) rising nearly 3% and Tesco (TSCDF) up more than 1%.</p><p><blockquote>周一，该公司股价在伦敦飙升超过 30%，股价高于收购要约，并提振了该行业的其他股票。Sainsbury's (JSNSF) 和 Ocado (OCDDY) 上涨超过 4%，Marks & Spencer (MAKSY) 上涨近 3%，Tesco (TSCDF) 上涨超过 1%。</blockquote></p><p> Morrisons rejected the proposal in its statement on Saturday, saying that it \"significantly undervalued\" the company and its future prospects. Clayton, Dubilier & Rice now has until July 17 to make a firm offer.</p><p><blockquote>莫里森在周六的声明中拒绝了该提议，称其“严重低估”了该公司及其未来前景。Clayton, Dubilier & Rice 现在必须在 7 月 17 日之前提出确定报价。</blockquote></p><p> The move comes amid heightened investor activity in UK retail and a spate of takeover bids for British companies, undervalued for years because of poor returns linked to drab growth and a weak pound following the Brexit referendum of 2016.</p><p><blockquote>此举出台之际，英国零售业投资者活动加剧，英国公司遭到大量收购，多年来，由于增长乏力以及 2016 年英国脱欧公投后英镑疲软导致回报不佳，这些公司的估值多年来一直被低估。</blockquote></p><p> In October, Walmart (WMT) sold supermarket chain Asda to European private equity group TDR Capital and the founders of a global convenience store business. Separately, Czech billionaire Daniel Kretinsky recently increased his stake in Sainsbury's to 10%, adding to speculation that it could be the next takeover target.</p><p><blockquote>10 月，沃尔玛 (WMT) 将连锁超市 Asda 出售给欧洲私募股权集团 TDR Capital 和一家全球便利店业务的创始人。另外，捷克亿万富翁丹尼尔·克雷廷斯基 (Daniel Kretinsky) 最近将其在 Sainsbury's 的股份增至 10%，这加剧了人们对其可能成为下一个收购目标的猜测。</blockquote></p><p> Analysts are speculating that Tesco, Britain's biggest supermarket chain, might also attract a buyer.</p><p><blockquote>分析师推测，英国最大的连锁超市乐购也可能吸引买家。</blockquote></p><p> \"The volume of liquidity, reflecting monetary policy, and the uptake of capital by family offices, high net worth investors and private equity, means that even Tesco, with its £18 billion ($25 billion) market capitalization, is not too big to be subject to an offer,\" Clive Black, head of research at Shore Capital said in a note on Monday.</p><p><blockquote>“流动性数量反映了货币政策，以及家族理财室、高净值投资者和私募股权对资本的吸收，这意味着即使是市值达 180 亿英镑（250 亿美元）的乐购，也不会太大，无法接受要约，”Shore Capital 研究主管 Clive Black 在周一的一份报告中表示。</blockquote></p><p> Sainsbury's and Tesco, which benefited from a surge in demand during lockdowns, are now poised to benefit from a strong economic recovery in Britain following the pandemic. Analysts say shoppers are likely to continue eating more meals at home even with restaurants reopening, particularly as many offices remain closed.</p><p><blockquote>塞恩斯伯里百货 (Sainsbury's) 和特易购 (Tesco) 受益于封锁期间需求激增，现在也准备受益于大流行后英国的强劲经济复苏。分析师表示，即使餐馆重新开业，购物者也可能继续在家吃更多的饭，特别是在许多办公室仍然关闭的情况下。</blockquote></p><p> Tesco CEO Ken Murphy told analysts on a call on Friday that online demand has been \"incredibly resilient even with the easing of restrictions.\"</p><p><blockquote>乐购首席执行官肯·墨菲 (Ken Murphy) 周五在看涨期权上对分析师表示，即使限制放松，在线需求“仍然具有令人难以置信的弹性”。</blockquote></p><p> \"We expect sales to remain well above pre Covid-19 level through the remainder of the year,\" he added.</p><p><blockquote>“我们预计今年剩余时间内销售额将远高于 Covid-19 之前的水平，”他补充道。</blockquote></p><p> Both leading retailers have also managed to keep costs under control, are generating large amounts of cash and have narrowed price gaps with German discounters Aldi and Lidl, according to Shore Capital's Black.</p><p><blockquote>Shore Capital 的 Black 表示，两家领先的零售商还设法控制了成本，产生了大量现金，并缩小了与德国折扣店 Aldi 和 Lidl 的价格差距。</blockquote></p><p> This could make them prime targets for the likes of Amazon (AMZN), he added. \"The Asda bid and the Kretinsky investment means that the topic of Amazon's plans will also be one of ongoing discussion around Sainsbury and Tesco,\" Black said.</p><p><blockquote>他补充说，这可能会使它们成为亚马逊 (AMZN) 等公司的主要目标。布莱克表示：“阿斯达的收购和克雷廷斯基的投资意味着亚马逊计划的话题也将成为围绕塞恩斯伯里和乐购正在进行的讨论之一。”</blockquote></p><p> The online retailer, which has been expanding its grocery offering since buying Whole Foods in 2017, already has a close relationship with Morrisons, which supplies its Prime and Pantry customers in the United Kingdom with dry, fresh and frozen products.</p><p><blockquote>这家在线零售商自2017年收购全食超市以来一直在扩大其杂货产品，已经与莫里森建立了密切的关系，莫里森为其在英国的Prime和Pantry客户提供干、新鲜和冷冻产品。</blockquote></p><p> But the market is not betting on a rival bid from Amazon. \"There is no indication in the [Morrisons] share price today that Amazon will come in and outbid Clayton, Dubilier & Rice,\" said Russ Mould, investment director at stockbroker AJ Bell.</p><p><blockquote>但市场并没有押注亚马逊的竞争对手出价。股票经纪人 AJ Bell 投资总监 Russ Mould 表示：“今天的 [Morrisons] 股价没有迹象表明亚马逊会出价超过 Clayton, Dubilier & Rice。”</blockquote></p><p> With a languishing share price and over £7 billion ($9.7 billion) in assets, including a real estate portfolio worth more than the company's market value, Morrisons \"ticks a lot of private equity boxes,\" he told CNN Business.</p><p><blockquote>他告诉美国有线电视新闻网商业频道，由于股价低迷，资产超过 70 亿英镑（97 亿美元），其中包括价值超过公司市值的房地产投资组合，莫里森“符合很多私募股权条件”。</blockquote></p><p> Returning to favor?</p><p><blockquote>回报？</blockquote></p><p> Investor interest in UK assets extends beyond grocers. There have been over 50 bids for UK-listed companies in the last eight months, only six of which have since been abandoned, according to Mould.</p><p><blockquote>投资者对英国资产的兴趣不仅限于杂货商。据 Mould 称，过去八个月里，英国上市公司收到了 50 多份竞标，其中只有 6 份被放弃。</blockquote></p><p> The average premium offered has been 34%, indicating that many of these companies may be undervalued by the market following years of weak shareholder returns. Over the last 12 months, there have been 95 announced offers for UK-listed companies with a combined value of $107 billion, according to Dealogic data.</p><p><blockquote>平均溢价为 34%，这表明在多年股东回报疲软之后，其中许多公司可能被市场低估。Dealogic 数据显示，过去 12 个月，英国上市公司宣布了 95 项要约，总价值达 1070 亿美元。</blockquote></p><p> \"The UK has consistently underperformed on the global stage since June 2016's Brexit vote and sterling has failed to regain the levels at which it traded before Britain decide to leave the EU,\" Mould said in a recent note. \"That rotten effort may mean that UK stocks are unloved and therefore potentially undervalued,\" he added.</p><p><blockquote>莫尔德在最近的一份报告中表示：“自 2016 年 6 月脱欧公投以来，英国在全球舞台上的表现一直不佳，英镑也未能恢复到英国决定脱欧之前的交易水平。”“这种糟糕的努力可能意味着英国股市不受欢迎，因此可能被低估，”他补充道。</blockquote></p><p> UK and European stock market indexes stand to benefit from the post-pandemic recovery, given the high representation of companies such as automakers and banks that perform well when the economy is on the upswing.</p><p><blockquote>鉴于汽车制造商和银行等公司在经济上升时表现良好，英国和欧洲股市指数将受益于大流行后的复苏。</blockquote></p><p></p><p> They may also offer better value for investors following much more robust gains in US indexes over the past decade, when European markets have been held back by a dearth of tech companies and lackluster economic growth in the region.</p><p><blockquote>在过去十年美国指数大幅上涨之后，它们也可能为投资者提供更好的价值，而当时欧洲市场因缺乏科技公司和该地区经济增长乏力而受到阻碍。</blockquote></p><p> The FTSE 100 (UKX) has climbed just 26% over the past decade, while Europe's STOXX 600 (SXXL) is up 85%. That compares with a gain of more than 230% for the S&P 500 (SPX).</p><p><blockquote>富时 100 指数 (UKX) 在过去十年中仅上涨了 26%，而欧洲斯托克 600 指数 (SXXL) 则上涨了 85%。相比之下，标普500 (SPX) 的涨幅超过 230%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://edition.cnn.com/2021/06/21/investing/morrisons-takeover-approach/index.html\">cnn</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MRWSY":"WM Morrison Supermarkets Plc."},"source_url":"https://edition.cnn.com/2021/06/21/investing/morrisons-takeover-approach/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1116834236","content_text":"London (CNN Business)Britain's fourth biggest supermarket chain Morrisons has become the takeover target of an American private equity firm in the latest sign of a strong appetite among investors for UK assets.\nMorrisons confirmed over the weekend that New York-headquartered Clayton, Dubilier & Rice last week made an unsolicited offer of £2.30 ($3.19) per share in cash for the grocery retailer. That's a 29% premium to Morrisons' (MRWSF) closing price on Friday, giving it a market value of around £5.5 billion ($7.6 billion).\nShares in the company surged more than 30% in London on Monday, taking the share price above the takeover offer and lifting other stocks in the sector. Sainsbury's (JSNSF) and Ocado (OCDDY) climbed over 4%, with Marks & Spencer (MAKSY) rising nearly 3% and Tesco (TSCDF) up more than 1%.\nMorrisons rejected the proposal in its statement on Saturday, saying that it \"significantly undervalued\" the company and its future prospects. Clayton, Dubilier & Rice now has until July 17 to make a firm offer.\nThe move comes amid heightened investor activity in UK retail and a spate of takeover bids for British companies, undervalued for years because of poor returns linked to drab growth and a weak pound following the Brexit referendum of 2016.\nIn October, Walmart (WMT) sold supermarket chain Asda to European private equity group TDR Capital and the founders of a global convenience store business. Separately, Czech billionaire Daniel Kretinsky recently increased his stake in Sainsbury's to 10%, adding to speculation that it could be the next takeover target.\nAnalysts are speculating that Tesco, Britain's biggest supermarket chain, might also attract a buyer.\n\"The volume of liquidity, reflecting monetary policy, and the uptake of capital by family offices, high net worth investors and private equity, means that even Tesco, with its £18 billion ($25 billion) market capitalization, is not too big to be subject to an offer,\" Clive Black, head of research at Shore Capital said in a note on Monday.\nSainsbury's and Tesco, which benefited from a surge in demand during lockdowns, are now poised to benefit from a strong economic recovery in Britain following the pandemic. Analysts say shoppers are likely to continue eating more meals at home even with restaurants reopening, particularly as many offices remain closed.\nTesco CEO Ken Murphy told analysts on a call on Friday that online demand has been \"incredibly resilient even with the easing of restrictions.\"\n\"We expect sales to remain well above pre Covid-19 level through the remainder of the year,\" he added.\nBoth leading retailers have also managed to keep costs under control, are generating large amounts of cash and have narrowed price gaps with German discounters Aldi and Lidl, according to Shore Capital's Black.\nThis could make them prime targets for the likes of Amazon (AMZN), he added. \"The Asda bid and the Kretinsky investment means that the topic of Amazon's plans will also be one of ongoing discussion around Sainsbury and Tesco,\" Black said.\nThe online retailer, which has been expanding its grocery offering since buying Whole Foods in 2017, already has a close relationship with Morrisons, which supplies its Prime and Pantry customers in the United Kingdom with dry, fresh and frozen products.\nBut the market is not betting on a rival bid from Amazon. \"There is no indication in the [Morrisons] share price today that Amazon will come in and outbid Clayton, Dubilier & Rice,\" said Russ Mould, investment director at stockbroker AJ Bell.\nWith a languishing share price and over £7 billion ($9.7 billion) in assets, including a real estate portfolio worth more than the company's market value, Morrisons \"ticks a lot of private equity boxes,\" he told CNN Business.\nReturning to favor?\nInvestor interest in UK assets extends beyond grocers. There have been over 50 bids for UK-listed companies in the last eight months, only six of which have since been abandoned, according to Mould.\nThe average premium offered has been 34%, indicating that many of these companies may be undervalued by the market following years of weak shareholder returns. Over the last 12 months, there have been 95 announced offers for UK-listed companies with a combined value of $107 billion, according to Dealogic data.\n\"The UK has consistently underperformed on the global stage since June 2016's Brexit vote and sterling has failed to regain the levels at which it traded before Britain decide to leave the EU,\" Mould said in a recent note. \"That rotten effort may mean that UK stocks are unloved and therefore potentially undervalued,\" he added.\nUK and European stock market indexes stand to benefit from the post-pandemic recovery, given the high representation of companies such as automakers and banks that perform well when the economy is on the upswing.\nThey may also offer better value for investors following much more robust gains in US indexes over the past decade, when European markets have been held back by a dearth of tech companies and lackluster economic growth in the region.\nThe FTSE 100 (UKX) has climbed just 26% over the past decade, while Europe's STOXX 600 (SXXL) is up 85%. That compares with a gain of more than 230% for the S&P 500 (SPX).","news_type":1,"symbols_score_info":{"MRWSY":0.9}},"isVote":1,"tweetType":1,"viewCount":2249,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":2,"subscribersOnly":false,"subscribersOnlyAccessible":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/120456346"}
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