Morrisons has agreed a £7bn takeover by the US private equity group Clayton, Dubilier & Rice in the latest round in a fierce fight for control of the country’s fourth largest supermarket chain.
The Bradford-based grocer confirmed on Thursday night it had accepted an improved offer of 285p per share from the private equity firm that bettered the offer on the table from rival suitor Fortress.
In June CD&R put Morrisons into play after it emerged its original 230p a share gambit – worth £5.5bn – had been rejected on the basis that it “significantly undervalued” the retailer.
Source: The Guardian
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