LONDON, June 21 — The UK supermarket chain Morrisons has rejected a £5.5 billion takeover offer from a US private equity group.
Morrisons said in a statement on Saturday evening that it rejected a conditional cash offer from US private equity group Clayton, Dubilier & Rice of 230 pence per share, or just over £5.5 billion.“Accordingly, the board rejected the conditional proposal on 17 June 2021.” CD&R, which has until July 17 to announce a firm intention to make an offer under UK takeover rules, said in a statement that there can be “no certainty an offer will be made”.
Morrisons reported last month that first quarter like-for-like sales were up 2.7 per cent, excluding fuel. Online sales grew 113 per cent year-on-year.Related Articles
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