Pension Scheme Trustees Warn Of Morrisons Takeover Risks
By Irene Madongo (August 25, 2021, 2:31 PM BST) -- A potential £7 billion ($9.6 billion) private equity takeover of Morrisons could weaken the security of the British supermarket chain's pension plans if bidders do not include additional protection for the retirement schemes, trustees have warned.
The pension funds for Britain's fourth largest supermarket chain are running a surplus, but could face a shortfall if the schemes were to be wound up, trustees of the Morrisons Retirement Saver Plan and The Safeway Pension Scheme said on Tuesday. Morrisons acquired Safeway, another supermarket chain, in 2004.
"An offer for Morrisons structured along the lines of the current offers would, if successful, materially weaken...
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