July 4, 2021
LONDON: Morrisons supermarket has agreed to a £6.3 billion takeover bid from a consortium of investment groups.
The offer, led by Softbank-owned Fortress which has partnered with Canada Pension Plan Investment Board and Koch Real Estate Investments, will see shareholders receive 252p per share plus a 2p special dividend. The all cash offer is subject to shareholder approval.
The offer represents a 42 per cent premium on the Morrisons share price before it was announced that the supermarket had rejected a takeover proposal from New York-based firm Clayton, Dubilier & Rice (CD&R) last month.
Fortress has invested in grocery retail in both North America and Europe, and has invested in Majestic Wine in the UK.
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