Skip to Content

UK supermarket Morrisons plans auction to end bidding war


LONDON (AP) — The British supermarket chain Morrisons plans to end a bidding war for the company by holding an auction between two U.S.-based investment groups that have made competing offers. The private equity firm Clayton, Dubilier & Rice offered about 7 billion pounds ($9.6 billion) for Morrisons. That figures topped the 6.7 billion-pound offer from a group led by Fortress Investment. But neither bidder declared its offer final by the deadline set by regulators. Morrisons said Wednesday that it is in discussions with the bidders and the U.K. Takeover Panel to put together an auction that will provide “an orderly framework for the resolution of this competitive situation.”

Article Topic Follows: AP National Business

Jump to comments ↓



ABC 17 News is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content