Jul 27, 2021
Morrisons' shareholder will not back takeover bid
Morrisons' biggest shareholder says "It is not inclined to support" the £6.3bn private equity-backed takeover deal for the supermarket chain. Morrisons shareholders are due to vote on the offer on 16 August. The current offer by Fortress, which was backed by Morrisons' board of directors, is priced at 252p per share, as well as a conditional special dividend at 2p per share for investors. "Silchester encourages Morrisons' board to allow more time to respond to other parties who might offer better value to Morrisons' public shareholders," it added. Morrisons, the UK's fourth largest grocer, has almost 500 shops and more than 110,000 staff.
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