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Andrea Felsted

$9 Billion for a Supermarket? Private Equity Has to Think Bigger

Bidders hoping to snatch up U.K. grocer Morrison have little choice but to sweeten their offer.

Not sold yet.

Not sold yet.

Source: Bloomberg

The item is in the cart but we haven’t gone through check-out yet. A consortium led by SoftBank-owned Fortress Investment Group LLC has little choice but to raise its 6.3 billion pound ($8.7 billion) bid for Wm Morrison Supermarkets Plc if it wants to take home this prize.

On Tuesday Silchester International Investors, the U.K. supermarket’s biggest shareholder with a more-than-15% stake, said it was not inclined to support Fortress’s agreed deal.