British supermarket and general merchandise retailer Morrisons has agreed a takeover offer worth £7 billion from US private equity group Clayton, Dubilier & Rice (CD&R), dropping its recommendation of a lower bid
Reporting “outstanding growth and strategic progress” is good. Achieving them in a “transformational year” on top of a recent IPO is even better. That’s how In The Style updated the market on Wednesday.
The owner of the discount chains Pepco, Poundland and Dealz, Pepco Group, plans to create about 13,000 net new jobs across Europe over the next three years as it aggressively opens new stores, its boss told Reuters.
One of the the ‘Big Four’ UK supermarket chains, Morrisons, has received an unsolicited bid approach valuing it at £5.5bn. But it has rejected the offer, despite it being above its closing share price as of Friday.