Fortress 'considering options' on Morrisons after CD&R lifts bid

Morrison (Wm) Supermarkets

286.40p

16:55 26/10/21

0.00%

0.00p

The consortium led by Fortress Investment Group said it was "considering its options" over Morrisons after its takeover offer was trumped by rival private equity group Clayton, Dubilier & Rice (CD&R).

Food & Drug Retailers

4,446.57

17:14 20/12/24

-0.38%

-16.90

FTSE 250

20,450.69

17:14 20/12/24

n/a

FTSE 350

4,463.29

17:14 20/12/24

n/a

FTSE All-Share

4,421.11

17:04 20/12/24

n/a

It called on Morrisons' shareholders to "take no action" on CD&R's £7bn agreed bid, trumping its own £6.7bn offer for the UK supermarket chain.

CD&R's offer is worth 285p a share, well above the 272 pence a share offered by Fortress, forcing the Morrisons board to drop its recommendation of the Fortress bid.

The latest offer gives the supermarket chain an enterprise value of £9.7bn once debt is included and Morrisons' board intends to recommend it unanimously.