Morrisons Sold to Clayton, Dubilier & Rice for $9.4 in Frenzied Bidding War

A consortium led by U.S. buyout firm Clayton, Dubilier & Rice is set to win the bidding war for U.K. grocery chain Wm Morrison Supermarkets PLC, an almost $9.4 billion bet that highlights the extreme lengths private-equity firms are willing to go amid a global deal frenzy.

The CD&R-led group emerged as the frontrunner after outbidding SoftBank Group Corp.’s Fortress Investment Group LLC and its partners in an unusual one-day auction held Saturday to decide the victor. The U.K. Takeover Panel, a government arm that oversees dealmaking in the country, held the contest to end a monthslong standoff fueled by increased offers by each side.

Disclaimer that the site operates automatically without human intervention, so all articles, news and comments posted on the site are the responsibility of the owners and the website manages them do not bear any moral or legal responsibility for the content of the site.
"All rights reserved for their owners"

Source:" WSJ "

Get the latest news delivered to your inbox

Follow us on social media networks

PREV Countdown Starts on Chinese Company Delistings After U.S.-China Audit Fight
NEXT Market Is Right to Be Spooked by Rising Bond Yields