LONDON – Morrisons (MRW.L) has agreed to a takeover led by SoftBank (9984.T) owned Fortress Investment Group that values Britain’s fourth-largest supermarket chain at 6.3 billion pounds ($8.7 billion) and tops a rival offer from a U.S. private equity firm.
The offer from Fortress, along with Canada Pension Plan Investment Board and Koch Real Estate Investments, exceeds a 5.52 billion pound unsolicited proposal from Clayton, Dubilier & Rice (CD&R), which Morrisons (MRW.L) rejected on June 19. read more
However, it was less than the 6.5 billion pounds asked for by top 10 Morrisons investor JO Hambro last week.
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