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Factbox-Supermarket sweep: $9 billion battle for Britain s Morrisons

Factbox-Supermarket sweep: $9 billion battle for Britain s Morrisons 07/05/2021 | 12:46pm EDT Send by mail : Message : Required fields LONDON (Reuters) -An $8.7 billion battle for Britain s Morrisons heated up when a third private equity group entered the fray on Monday and the supermarket group s share price outstripped the value of an offer it recommended on Saturday. Following are some details about the bidders for the 122-year-old grocery group, which is Britain s fourth largest supermarket chain with 500 stores and is based in Bradford, northern England. FORTRESS LED CONSORTIUM Morrisons agreed a 6.3 billion pound ($8.7 billion) takeover led by the SoftBank owned Fortress Investment Group and backed by Canada Pension Plan Investment Board and Koch Real Estate Investments on Saturday.

Apollo Global joins battle for Britain s Morrisons

Morrisons agreed deal with Fortress on Saturday Fortress offer topped CD&R proposal Morrisons shares up 11.4% LONDON, July 5 (Reuters) - The $8.7 billion bid battle for Britain s fourth largest supermarket group Morrisons ratcheted up on Monday when a third private equity group, Apollo Global Management, entered the fray. U.S. group Apollo, which last year missed out on buying Asda, the No. 3 grocery player in the United Kingdom, said it was in the preliminary stages of evaluating a possible offer for Morrisons but had not approached its board. On Saturday Morrisons said the board, led by Chairman Andrew Higginson, had recommended a takeover led by SoftBank

City gears up for Morrisons bidding war

Undated handout file photo issued by Morrisons of their store front. 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 By Scott Wright THE City of London set the scene for a bidding war for Wm Morrison after investors reacted to the latest takeover developments surrounding the grocer by sending its shares soaring. Shares in Morrisons, the UK’s fourth biggest supermarket chain, closed up nearly 12 per cent as investors responded to the board’s approval of a takeover offer valuing the group at £6.3 billion, and the prospect of a further suitor entering the fray.

Ken Morrison would be fuming in his grave over takeover bid , ex-Iceland boss says

Ken Morrison would be fuming in his grave over takeover bid , ex-Iceland boss says
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