U.S. private equity firm Clayton, Dubilier & Rice’s 7 billion pound ($8.8 billion) takeover of British supermarket group Morrisons cleared its last regulatory hurdle on Thursday, more than eight months after shareholders backed the deal.
Britain’s competition regulator formally accepted CD&R’s offer to sell 87 petrol stations to address concerns over higher fuel prices.
Monthly industry data has shown Morrisons, Britain’s fourth largest grocer, lagging larger rivals Tesco and Sainsbury’s.
Read more: Reuters
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