CD&R gets time to weigh counter bid for Morrisons: Reuters

Morrisons suitor, Clayton, Dubilier & Rice, has won more time to consider a counter bid to Fortress’ agreed 6.7 billion pounds ($9.3 billion) offer for the British supermarket group, Reuters reported.

Morrisons suitor, Clayton, Dubilier & Rice, has won more time to consider a counter bid to Fortress’ agreed 6.7 billion pounds ($9.3 billion) offer for the British supermarket group, Reuters reported. Britain’s takeover panel said CD&R would have until August 20 to announce a firm intention to make a new offer or walk away. The Fortress consortium includes Canada Pension Plan Investment Board, Koch Real Estate Investments and Singapore’s sovereign wealth fund GIC.

Source: Reuters