Why did the Morrisons share price explode this week?
The Morrisons (LSE:MRW) share price exploded this week, moving from 178p to 240p within the first hours of trading on Monday. Thats a 35% jump  quite impressive for a supermarket chain! Since the surge, the stock has remained relatively stable. And this recent momentum has helped push the 12-month performance to around 25%. But the question remains. Lets take a look. 5G is here  and shares of this sleeping giant could be a great way for you to potentially profit! According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air And if you click here well show you something that could be key to unlocking 5Gs full potential...  A rejected takeover offer  Theres a relatively short list of events that can trigger such a massive upward swing in a company share price. Generally, these are caused by expectation-beating earnings reports, or in the case of Morrisons, a takeover bid. US private equity firm Clayton, Dubilier & Rice (CD&R) recently made an offer of 230p per share. But after consideration, the board of directors unanimously rejected it. This decision was based on the boards opinion that the Conditional Proposal significantly undervalued Morrisons and its future prospects. In other words, the management team believes the Morrisons share price can climb a lot higher than 230p. But this isnt the end of the story. CD&R has until 17 July to make another more tempting offer to both the Morrisons board and shareholders. Meanwhile, other firms may enter the arena, potentially sparking a bidding war. Needless to say, if this were to happen, the Morrisons share price would likely continue to climb to reflect the potential offers. While the prospect of a potential buyout is alluring, its important to remember it may not happen. And should a higher bid fail to emerge, the Morrisons share price could fall just as quickly as it rose. Personally, I remain pretty sceptical of a bid emerging from another prospective buyer. There arent that many private equity firms with almost 6bn of cash lying around to outright purchase one of the biggest supermarket chains in the UK. Whats more, while theres speculation that other retailers like Tesco or Sainsburys may make an offer, I highly doubt regulators would allow the transaction to proceed on anti-competition grounds. This actually happened when Sainsburys and Asda tried merging in 2019. Over the long term, I think its possible. The grocery retail industry is undergoing some disruption from discounters like Aldi and Lidl, and online delivery services like Ocado. However, Morrisons appears to be adapting relatively well by lowering its prices, as well as offering home delivery solutions. As a result, the business has managed to essentially retain its market share over the past four years. And while I doubt any explosive growth is on the horizon, its historical 4% dividend yield looks like it could be an attractive addition to my income portfolio. Having said that, Im keeping Morrisons on my watch list for now. If Im right and another takeover bid fails to emerge, then the subsequently falling Morrisons share price could be an opportunity to snatch up some shares at a discount.