Morrisons Sold to Clayton, Dubilier & Rice for $9.4 Billion in Frenzied Bidding War

A consortium led by U.S. buyout firm Clayton, Dubilier & Rice won the bidding war for U.K. grocery chain Wm Morrison Supermarkets PLC, an almost $9.4 billion bet that highlights theThe CD&R-led group emerged as the front-runner after outbidding SoftBank Group Corp.

’s Fortress Investment Group LLC and its partners in an unusual one-day auction held Saturday to decide the victor. The U.K. Takeover Panel, a government arm that oversees deal making in the country, held the contest to end a monthslong standoff fueled by increased offers by each side.

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