BUSINESS LIVE: Currys takeover bid; Hipgnosis makes claim against adviser; Morrisons plots price cuts
By Live Commentary
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The FTSE 100 will open at 8am. Among the companies with reports and trading updates today are Currys, Hipgnosis, Morrisons and Moneysupermarket.com Group. Read the Monday 19 February Business Live blog below.
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Morrisons eyes Aldi and Lidl shoppers with price cuts
The boss of Morrisons has stepped up the supermarket’s price war with Aldi and Lidl to win back customers.
Morrisons lost its status as Britain’s fourth-biggest grocer nearly two years ago because shoppers have been switching to the German discounters.
Last month new chief executive Rami Baitieh pledged to tempt back disillusioned consumers, admitting there was ‘work to do’.
Currys rejects takeover bid
Currys has rejected a 62p per share takeover offer from Elliot Advisors as the electronics retailer’s board dismissed the US activist fund group’s bid as having ‘significantly undervalued the company and its future prospect’.
The bid was at a significant premium to Currys’ closing share price of 42.07p on Friday.
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BUSINESS LIVE: Currys takeover bid; Hipgnosis makes claim against adviser; Morrisons plots price cuts
