Mergers: Workers paying the price
Morrisons, the supermarket company, was bought by US private equity company Clayton Dubilier & Rice in 2021 in a deal that saddled Morrisons with £6.6 billion of debt.
Private equity
Private equity
What is private equity?
Far from creating wealth or adding value, private equity (PE) is another capitalist way to filch wealth already created by workers.
End privatisation says RMT as Arriva is sold to private equity
19 October 2023
RMT denounces sale of Arriva bus and train operations by the German state railway to US private equity.
Borrow, Buy, Strip the assets, Sell. Repeat.
The stock market and the companies traded there have never been friends of workers or nations. But now they are being overtaken by something even worse – private equity…