Bidding War Heats up at Morrisons With New £7 Billion Bid by US Private Equity Firm

Bidding War Heats up at Morrisons With New £7 Billion Bid by US Private Equity Firm
The Morrisons store in Wakefield, Yorkshire, UK, in an undated file photo. Danny Lawson/PA
Updated:

U.S. private equity firm Clayton, Dubilier & Rice (CD&R) has announced a new £7 billion ($9.54 billion) bid for supermarket Morrisons.

The deal has been unanimously accepted by the board of the grocer and directors have said shareholders should vote in favour of the takeover at a meeting due in early October.