US private equity firm wins £7billion auction to buy Morrisons
US private equity firm wins £7billion auction to buy Morrisons ending months-long pursuit of UK’s fourth-biggest supermarket Clayton, Dubilier & Rice beat off rival Fortress to buy out the supermarket giant The stock market's Takeover Panel announced CD&R offered 287p per share Experts suggest it could see a huge shakeup of the UK's supermarket landscape
View
comments
Private equity giant Clayton, Dubilier & Rice (CD&R) has won the battle to buy supermarket giant Morrisons, bringing an end to a dramatic four-month takeover saga.
The stock market's Takeover Panel announced today the auction procedure had ended and that CD&R had offered 287p per ordinary share, more than rival Fortress which offered 286p - meaning its bid amounts to an offer of almost £7 billion.
The final offer for the supermarket will now be voted on by shareholders on October 19.
Private equity giant Clayton, Dubilier & Rice (CD&R) has won the battle to buy supermarket giant Morrisons, bringing an end to a dramatic four-month takeover saga
The takeover saga has dragged on since CD&R first made an approach
