Supermarket operator Morrisons has appointed investment bank NM Rothschild as its advisor, a spokesperson for the company confirmed to just-food, a move that has fuelled speculation that the retailer is expecting some kind of takeover activity.
Morrisons long-term investment bank was ABN Amro Holding NV, which advised the company during its costly takeover of Safeway. The company has switched to Rothschild, which has a strong presence in the North of England where the supermarket chain is based.
The appointment has raised some eyebrows, with the Daily Telegraph reporting today (3 April) of rumoured acquisitive activity. However, the company declined to comment on such speculation.