US private equity firm wins auction for UK’s MorrisonsAFP, LONDONA US private equity firm has won an auction for British supermarket group WM Morrison Supermarket PLC, the UK’s Takeover Panel which oversees merger and acquisition deals said on Saturday. The panel said that Clayton Dubilier & Rice LLC (CD&R) bid ￡2.87 per share, beating private equity giant Fortress Investment Group, which bid ￡2.86, the panel announced in a short statement. The winning bid values the company at about ￡7.1 billion (US$9.61 billion), Morrisons said. A person exits a Morrisons supermarket in London on Saturday. The auction was held because neither CD&R or Softbank Group Corp-owned Fortress lodged a final offer on their earlier bids.

Source: Taipei Times October 03, 2021 15:56 UTC