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    Home»Shares»Morrisons leaps after rejecting $7.6 bln private equity bid
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    Morrisons leaps after rejecting $7.6 bln private equity bid

    June 21, 20211 Min Read
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    Morrisons (MRW.L) shares surged as much as 35% on Monday on hopes that U.S. private equity firm Clayton, Dubilier & Rice (CD&R) might raise its proposed offer for the British supermarket group or flush out other bidders.

    Britain’s fourth-largest grocer by sales behind Tesco (TSCO.L), Sainsbury’s (SBRY.L) and Asda, said on Saturday that it had rejected a proposed 5.52 billion pounds ($7.62 billion) cash offer from CD&R.

    The surprise approach underlines private equity’s growing appetite for supermarkets in Britain, attracted by their steady cash generation and freehold real estate assets.

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    Source: Reuters

    By James Davey

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