CD&R Wins $10 Billion Auction for UK Supermarket Morrisons

CD&R Wins $10 Billion Auction for UK Supermarket Morrisons
A view of a Morrisons supermarket in Birtley, Britain, on Aug. 16, 2021. Lee Smith/Reuters
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LONDON–Clayton, Dubilier & Rice (CD&R) has won the auction for Morrisons with a 7 billion pound ($9.5 billion) bid, paving the way for the U.S. private equity firm to take control of Britain’s fourth-biggest supermarket group.

The board of Morrisons recommended CD&R’s 287 pence per share bid on Saturday, hours after its bid beat a consortium led by Softbank owned Fortress Investment Group, which had made an offer worth just a penny less per share at 286 pence.