Overseas investors eye Morrisons and others due to weak pound

Morrisons Brighton

Stable retail businesses such as Morrisons are being eyed by overseas investors due to a drop in the price of sterling driven by ongoing uncertainty around Brexit, according to analysts.

Morrisons is considered a prime candidate for a potential takeover bid from an overseas private equity firm, as its share price continues to waver and the weakness of the pound sterling against overseas currencies makes deals cheaper.

Only yesterday, pub and brewery chain Greene King was snapped up for £2.7bn by Superdrug owner and Hong Kong-based billionaire Li Ka-shing, and some analysts believe that more overseas investors will look to move into the UK market.

Head of research at Shore Capital, Clive Black said: “We are not suggesting Morrisons has had an approach, but sure as eggs are eggs, there are a vast array of investors looking at stable UK businesses at the moment.

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