
British supermarket and general merchandise retailer Morrisons has agreed a takeover offer worth £7 billion from US private equity group Clayton, Dubilier & Rice (CD&R), dropping its recommendation of a lower bid
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British supermarket and general merchandise retailer Morrisons has agreed a takeover offer worth £7 billion from US private equity group Clayton, Dubilier & Rice (CD&R), dropping its recommendation of a lower bid
Morrisons suitor, US private equity group Clayton, Dubilier & Rice (CD&R), has been given more time to consider a counter takeover bid for the supermarket group.
British supermarket group Morrisons has agreed to an improved takeover offer worth £6.7 billion ($9.3bn) in cash from a consortium led by Softbank-owned Fortress Investment Group, it said on Friday.
Private equity firm Clayton, Dubilier & Rice (CD&R) is poised to start a bidding war for British supermarket chain Morrisons, the target of a £6.3 billion ($8.8 billion) offer from a group led by another U.S. firm.
The private equity takeover of UK supermarkets giant Morrisons might not be all smooth sailing with news that its biggest shareholder doesn't intend to support the deal.
Concerns have emerged that Morrisons may face heavy costs after it's been taken over by private equity. The lead bidder will conduct a review of the property portfolio, raising the spectre of sale/leaseback deals.
The original private equity bidder for Morrisons, Clayton, Dubilier & Rice (CD&R), is mulling another bid after its original £5.5 billion offer was quickly turned down.
The prospects of an all-out bidding war for UK supermarkets giant Morrisons have receded with news that one of the private equity groups that was interested in it won’t be making a bid on its own.
Amazon has appointed Tony Hoggett, a veteran of British supermarket chain Tesco, to run its physical stores, the U.S. group said on Friday.
The potential takeover of Morrisons, the UK supermarket giant that owns the growing Nutmeg clothing brand, has come a step closer with the retailer’s board having recommended a new offer.