Private equity giant mulls £5.5bn Morrisons takeover
Clayton Dubilier & Rice (CD&R) is reportedly weighing up a £5.5bn takeover bid for supermarket chain Morrisons.
The private equity firm is in the early stages of evaluating an offer for Britain’s fourth biggest supermarket, Sky News first reported, and is understood to have made a preliminary approach to Morrisons’ board.
The buyout giant is said to have begun approaching banks about financing a potential bid.
However, a source told Sky that a formal bid for the grocer was far from certain, and that the project could still be abandoned.
In a statement CD&R said it had by no later than 5.00pm on 17 July 2021 to either announce a firm intention to make an offer for Morrisons or that it does not intend to make an offer.
Morrisons declined to comment.