30th Jul 2021 14:05
Wm Morrison Supermarkets PLC - Bradford, West Yorkshire-based grocer - The private equity-backed consortium seeking to buy Morrisons said the UK competition regulator has not raised any issues regarding its GBP6.3 billion takeover deal. The consortium, led by Softbank Group Corp's Fortress Investment Group LLC, said the Competition & Markets Authority told the bidder it "has no further questions" regarding the offer. Fortress added that the CMA has "not opened an inquiry or indicated in writing that it is still investigating whether to open an inquiry". On Wednesday, an arm of GIC Ptd Ltd, one of the managers of Singapore's sovereign wealth funds, joined the Fortress consortium, lending additional firepower to a bid that has been facing pushback from some large investors.
Current stock price: 264.30 pence, down 0.1% Friday but 4.1% above Fortress total offer of 254p per share
Year-to-date change: up 49%
By Tom Waite; [email protected]
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