Morrisons losers will check out UK’s Sainsbury’s - dasha_reuters -
U.S. private equity group Clayton, Dubilier & Rice on Oct. 2 won an auction for Britain’s Wm Morrison Supermarkets with a 7 billion pound bid, narrowly beating an offer from a consortium led by SoftBank Group-owned Fortress Investment.
CD&R had offered 287 pence per share, just 1 pence more than the Fortress consortium, the Takeover Panel, which governs M&A in Britain, said in a statement. CD&R’s offer was slightly higher than the 285 pence a share offer recommended by Morrisons’ board in August.Shoppers are seen in a Sainsbury’s supermarket in London, Britain, January 12, 2021.
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