Morrisons said on Saturday it has agreed a takeover offer from a new company owned by funds managed or advised by affiliates of Fortress Investment Group, which values the British supermarket group at $8.7bn.
Under the terms of the deal, Morrisons shareholders will receive 254 pence a share, comprising 252 pence in cash and a 2 pence cash dividend.
The offer exceeds the £5.52bn proposal from U.S. private equity firm equity firm Clayton, Dubilier & Rice (CD&R), which Morrisons rejected on June 19, saying it was far too low.
Source: Reuters
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