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Morrisons turns down £5.52 billion bid from American private equity firm

Morrisons has turned down a £5.52 billion offer to sell to an American private equity firm.

The supermarket chain confirmed it has received a “unsolicited, highly conditional non-binding” proposal of 230p a share.

The group said in a statement:


“The board of Morrisons evaluated the conditional proposal together with its financial adviser, Rothschild & Co, and unanimously concluded that the conditional proposal significantly undervalued Morrisons and its future prospects.

” Accordingly, the board rejected the conditional proposal on 17 June 2021.”

The cash bid came from Clayton Dubilier & Rice (CD&R) in New York.

Shares in Morrisons, which are down 5.5 per cent over the last year, closed on Friday at 182p, valuing the group at £4.33bn.



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