Morrisons auction over with US private equity firm bidding £7bn

The Morrisons auction procedure – the battle to buy the UK’s fourth biggest supermarket – has ended, the stock market’s Takeover Panel has announced

A US private equity firm has won the auction for Morrisons.

The auction procedure for the battle to buy the UK’s fourth biggest supermarket has ended, the stock market’s Takeover Panel has announced.

Following the end of the process, private equity giant Fortress has offered 286p per Morrisons ordinary share, and rival Clayton, Dubilier & Rice (CD&R) 287p.

The takeover saga has dragged on since CD&R first made an approach for the Bradford-based grocer back in June.

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