Tag: takeover

Bidding War Heats up at Morrisons With New £7 Billion Bid by US Private Equity Firm

August 20, 2021
Business & EconomyCompaniesMorrisonssupermarkettakeoverUKWorld
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U.S. private equity firm Clayton, Dubilier & Rice (CD&R) has announced a new £7 billion ($9.54 billion) bid for supermarket Morrisons. The deal has been unanimously accepted by the board of the grocer and directors have said shareholders should vote in favour of the takeover at a meeting due in early October. It means the…

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Britain’s Morrisons Agrees $8.7 Billion Takeover by Fortress-Led Group

July 4, 2021
BusinessCompaniesInvestmentMorrisonssupermarkettakeoverUKWorld
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LONDON—Morrisons has agreed to a takeover led by SoftBank owned Fortress Investment Group that values Britain’s fourth-largest supermarket chain at £6.3 billion ($8.7 billion) and tops a rival offer from a U.S. private equity firm. The offer from Fortress, along with Canada Pension Plan Investment Board and Koch Real Estate Investments, exceeds a £5.52 billion…

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