Morrisons board agrees £9.5bn takeover deal
Morrisons has agreed a £9.5bn takeover deal with a consortium of private investment groups.
Fortress, CPPIB, and Koch Real Estate Investments appear to have succeeded where private equity group Clayton, Dublilier & Rice failed, by reaching agreement for the Bradford-based supermarket group.
CD&R had made a bid at 230p-per-share but the successful bid, revealed on Saturday morning, is worth 254p. The £9.5bn deal value includes £3.2bn of net debt.
Morrisons chairman Andrew Higginson said: "It’s clear to us that For... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
