2. Discuss any recent attempts of UK supermarkets to merge (i.e. one supermarket group acquiring another). Were these attempts successful? Why? What are likely implications of the outcomes of these attempts for any further attempts of one supermarket group trying to buy another one?

3. Explain, why the UK businesses are attractive targets for foreign private equity companies and how they (PE companies) might potentially benefit from such deals. Are there any concerns regarding the effect of these deals on the communities (jobs, pensions, suppliers) and acquired companies long term financial well-being?

4. Critically discuss the chain of events that took place in the bidding process, starting with the first bid by CD&R and ending with the eventual conclusion of the deal. What companies were involved, how did Morrisons major shareholders react to events and why was there a bidding war?

5. How did Morrison share price change in response to each event in Q4? Why? Discuss how target companys share prices usually react to takeover bids and why, how they react to bidders withdrawing their offers and why. Include academic empirical evidence in your discussion.