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Morrisons accepts £6 3bn takeover bid from SoftBank-backed Fortress

Morrisons supermarket has accepted a £6.3bn takeover bid this morning. (Photo by George Wood/Getty Images) Morrisons has accepted a £6.3bn takeover bid from a new group of funds led by affiliates of SoftBank-backed Fortress, the firm announced this morning. Morrisons shareholders will receive 254p a share, comprising 252p in cash and a 2p cash dividend. The group is headed by Fortress Investment Group, an American investment management company which has ties with Japanese conglomerate SoftBank, and included Canadian pension fund CPPIB and a unit of Koch Industries, KREI.  The total value of the deal is £9.5bn, with the group valuing Morrison’s equity at £6.3bn and including £3.2bn of net debt under the takeover.

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