UK supermarket Morrisons agrees to £6.3 billion takeover Published on Share
British supermarket giant Morrisons has accepted a takeover offer from a consortium of investment groups following its rejection of a private equity bid last month, the chain announced on Saturday.
Under the £6.3 billion ($8.7 billion) deal, the group of investors comprising Softbank-owned Fortress, Canada Pension Plan Investment Board and Koch Real Estate Investments (KREI) will pay 252 pence per share plus a 2p special dividend.
According to the announcement, the deal also includes £3.2 billion in debt, which makes the total operation worth £9.5 billion with debt recovery.
The takeover of the supermarket based in northern England follows the rejection of a £5.5 billion offer in June from Clayton Dubilier & Rice that sent the chain’s share prices soaring but which Morrisons ultimately said was too low.
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