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
Can’t stop reading? Read more
Blackstone taps bond market as private credit BDCs end issuance drought
Blackstone taps bond market as private credit BDCs end issuance drought Blackstone's private...
EQT raises the stakes with revised $12.3bn bid for Intertek
EQT raises the stakes with revised $12.3bn bid for Intertek EQT has tabled an improved takeover...
Temasek’s Azalea bets on evergreen structure to democratise private equity access
Temasek's Azalea bets on evergreen structure to democratise private equity access Azalea, a unit...