Deals
Wm Morrison Shareholders Back CD&R’s $9.7 Billion Takeover
- About 99% of shares are voted in support of private equity bid
- CD&R won bidding war against Fortress to add British grocer
Customers at a Morrisons supermarket in Saint Ives, U.K.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Wm Morrison Supermarkets Plc shareholders backed the 7 billion-pound ($9.7 billion) sale of Britain’s fourth-largest grocer to Clayton Dubilier & Rice LLC, clearing the way for the country’s biggest buyout in more than a decade.
About 99% of shares were voted in support of the deal at an extraordinary investor meeting Tuesday, following a months-long, heated takeover battle between CD&R and rival U.S. private equity firm Fortress Investment Group.