Morrisons rejects CD&R's £5.5B takeover proposal

Saturday, 19. June 2021 22:26

Wm Morrison Supermarkets plc reported on Saturday that it rejected Clayton, Dubilier & Rice's acquisition bid after media reports related to the potential takeover.

The private equity offered to buy the supermarket chain, which is the fourth largest in Britain, at £2.30 per share in cash, for an approximate total of £5.5 billion, Morrisons said.

In the press release, the company stated that its board and advisers "unanimously concluded that the conditional proposal significantly undervalued Morrisons and its future prospects."

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