Press "Enter" to skip to content

Morrisons Bidder CD&R Reaches Agreement With Pension Trustees

Amnon Free Press/Central Press Syndicate, USA. Read, Enjoy and Share the Latest US News Updates.

LONDON—Morrisons suitor Clayton Dubilier & Rice said it had reached an agreement with the pension trustees of the British supermarket chain to provide additional security and support to the schemes, as it seeks to clinch the deal ahead of a rival bidder. Morrisons is at the center of a bid battle between two U.S. private equity firms. The supermarket group agreed to a 7 billion pound offer from Clayton, Dubilier & Rice (CD&R) in August, but a rival consortium led by Softbank-owned Fortress Investment Group could still trump the bid and the battle looks to be heading for an auction. Chairman of the Trustees, Steve Southern, said that under CD&R, the outcome for Morrisons pensioners would be positive. “We are pleased with the progress made and CD&R’s ability to provide the necessary support and reassurance to the Schemes,” he said in a statement on Tuesday.

To continue reading this news article, follow the link to the news website.

For any inquiries, contact Amnon Free Press (Amnon Jobi Jakony) by writing to editor [at] Discover a world of hyper-local news below.

Other News:   Deadly Shooting In Area Cancels Classes At Forney Independent School District Campuses

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *