A Morrisons store is pictured in St Albans, Britain, September 10, 2020. REUTERS/Peter Cziborra//File Photo
LONDON, July 3 (Reuters) – Morrisons has agreed to a takeover led by SoftBank (9984.T) owned Fortress Investment Group, valuing Britain’s fourth largest supermarket chain at 6.3 billion pounds ($8.7 billion) and topping a rival proposal 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
Including Morrisons’ net debt of 3.2 billion pounds, Fortress’ offer gives…
