Oct 4, 2021 1 min read

Clayton Dubilier & Rice win Morrisons takeover auction

US private equity firm wins £7bn auction for UK supermarket.
Clayton Dubilier & Rice win Morrisons takeover auction

American private equity buyout barons Clayton Dubilier & Rice are poised to acquire Morrisons (LON: MRW) after outbidding rivals Fortress.

Over the weekend it was reported that CD&R had won a bid auction for the supermarket group with a £7 billion offer.

The stock market’s Takeover Panel said Fortress offered 286p per Morrisons ordinary share, while CD&R offered 287p.

Morrisons board of directors will now present the offer to shareholders at a meeting scheduled for 19 October.

If the bid is approved by shareholders, Clayton Dubilier & Rice will officially take over Morrisons by November.

Morrisons is Britain's fourth-biggest supermarket by market share, after Tesco, Sainsbury's and Asda.

Based in Bradford, the business began as an egg and butter merchant in 1899.


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