Morrisons shares. Next step?

Following the takeover of Morrisons, what will happen to my shares? I am away from home at the moment, so I do not have access to my post. Should I be doing something? TIA
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Comments

  • eskbanker
    eskbanker Posts: 36,928 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Your shares will be purchased by the new owner - I don't know the administrative details of exactly how/when, etc, but your broker should be able to advise?
  • bigfer
    bigfer Posts: 321 Forumite
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    At what price would they purchase them? 
  • eskbanker
    eskbanker Posts: 36,928 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    bigfer said:
    At what price would they purchase them? 
    The offer accepted yesterday is £2.87.
  • Hi,
    seems the vote was yesterday,
    "Morrisons shareholders will get to vote on the £7.3billion ($10billion) takeover offer from US private equity group Clayton, Dubilier & Rice (CD&R) on 19 October".
    "CD&R wins auction with 287 pence per share bid".


  • eskbanker
    eskbanker Posts: 36,928 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    The offer was accepted by 99.2% of shareholders - OP, do you hold 0.8% by any chance? ;)
  • bigfer
    bigfer Posts: 321 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    eskbanker said:
    The offer was accepted by 99.2% of shareholders - OP, do you hold 0.8% by any chance? ;)
    I'm not sure. I'll check with my Zurich bank.
  • MX5huggy
    MX5huggy Posts: 7,138 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    eskbanker said:
    The offer was accepted by 99.2% of shareholders - OP, do you hold 0.8% by any chance? ;)
    I hope not, think I would be slightly more clued up on where a cheque for £58.4 million was going to get posted to. 
  • bigfer
    bigfer Posts: 321 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    MX5huggy said:
    eskbanker said:
    The offer was accepted by 99.2% of shareholders - OP, do you hold 0.8% by any chance? ;)
    I hope not, think I would be slightly more clued up on where a cheque for £58.4 million was going to get posted to. 
    It's ok. My next door neighbour has a key.
  • EthicsGradient
    EthicsGradient Posts: 1,221 Forumite
    Sixth Anniversary 1,000 Posts Photogenic Name Dropper
    edited 20 October 2021 at 7:36PM
    The timetable says the proceeds of the sale should be sent to you (by cheque, if you hold paper certificates, credited to your account if held electronically) around the 10th November. There shouldn't be anything you need to do (and there's nothing you can do to keep them instead, I believe - an agreement to sell that large gives them the right to make it compulsory).
  • bigfer
    bigfer Posts: 321 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    Thanks to all. I converted the shares from paper to online a couple of years ago. I never trusted the Woodfords next door anyway.


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