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Private equity firm CD&R set to make counter bid for UK s Morrisons -report

Private equity firm CD&R set to make counter bid for UK s Morrisons -report
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UK s Morrisons investors to vote next month on Fortress offer

Article content Britain’s Takeover Panel, which regulates corporate transactions, said on Thursday it had given CD&R until Aug. 9 to announce a firm intention to make an offer or walk away a so-called “put-up or shut-up” order. A third private equity suitor Apollo Global Management said on Tuesday it would not pursue a solo offer for Morrisons but could join the Fortress consortium. The scheme document showed that Fortress expected to incur banking and advisory fees and expenses of 263.5 million pounds, while Morrisons expected to incur up to 49.6 million pounds. Morrisons said it and Fortress were also in talks with the trustees of Morrisons’ pension schemes.

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