Jun 19, 2021

US private equity firm considers bid for Morrisons

US private equity firm Clayton, Dubilier & Rice is considering making a cash offer to acquire Morrisons, the UK's fourth-largest supermarket group. The company said it "Notes the press speculation regarding a potential transaction" and it confirmed it was considering a possible offer. It has previously made investments in the discount shop chain B&M, from which it made more than £1bn.Last month, Morrisons said sales had had increased by 2.7% in the 14 weeks to 9 May, saying the pandemic had led to a "Renaissance of the supermarket" as Brits enjoy cooking at home more. American company CD&R is one of the biggest takeover firms in the world and when it comes to UK retail it has form. No price tag has yet been put on the business - that'll come in the coming weeks if the offer is made official.

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