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CD&R Weighs Fresh Pledges to Stay in $9 Billion Morrison Race

  • Buyout firm starts due diligence as it works on improved offer
  • Morrison CEO to meet U.K. business secretary on July 16
Updated on

Clayton Dubilier & Rice is pushing ahead with its pursuit of British grocery chain Wm Morrison Supermarkets Plc, as it seeks to beat an agreed 6.3 billion-pound ($8.7 billion) bid from Fortress Investment Group, people with knowledge of the matter said.

Morrison has granted CD&R access to confidential information as it works on an improved offer, the people said, asking not to be identified because the information is private. In addition to a potential increase in its bid, the buyout firm is considering what additional commitments it can make to win over Morrison’s board, the people said.