This has been
going on for some time.
Still a way to go.
[A USA private equity firm has won the
auction for British supermarket group
Morrisons with a £7bn bid.
Clayton, Dubilier & Rice (CD&R)
bid 287 pence per share.
Morrisons is Britain's fourth-biggest supermarket
by market share, after market leader
Tesco, Sainsbury's and Asda.
Based in Bradford, the business began
as an egg and butter merchant in 1899.
The battle for Morrisons is the most
high-profile among a spate of bids for
British companies this year,
reflecting private equity's appetite for
cash-generating assets.
The Takeover Panel, which governs the
process for M&A deals in Britain,
moved to an auction because neither
bidder had declared their offers final.]
[Morrisons' board, due to meet later,
is now expected to recommend
that shareholders accept the
new offer at their meeting on 19 October.
If shareholders approve the offer,
CD&R could complete its takeover
of Morrisons by the end of the month.]
https://news.sky.com/story/morrisons...arket-12423755
The End Result of all this
with be an Asset Stripping American Group
Wrecking UK Morrisons Supermarkets