Wm Morrison Supermarkets plc (MRW)

Clayton Dubilier & Rice win Morrisons takeover auction

US private equity firm wins £7bn auction for UK supermarket.

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.

Not Investment Advice Note: Views expressed are those of the writer. The author does not own any stocks mentioned. The article is information, not advice. Share prices can rise and fall. Past returns are not a guide to the future. Please do your own research.

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