Aug 6, 2021

Morrisons agrees to raised £6.7bn takeover offer from Fortress

The supermarket chain Morrisons says it has agreed to a revised takeover offer worth £6.7bn, up from £6.3bn, from a private equity consortium lead by Fortress Investment Group. The increased offer, worth 272p a share, comes after some key investors rejected a previous 254p a share offer. It said in a statement: "Morrisons directors believe that the increased Fortress offer is in the best interests of Morrisons shareholders as a whole, and accordingly unanimously recommend that Morrisons shareholders vote in favour of the resolutions required to implement the increased Fortress offer,". There have been reports CDR was planning its own new higher offer. Morrisons' shares were at 269p before news of the offer began circulating.

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