Morrisons strikes £7bn takeover deal with US private equity group

Supermarket chain accepts improved offer of 285p per share from Clayton, Dubilier & Rice amid bidding war

Morrisons has agreed a £7bn takeover by the US private equity group Clayton, Dubilier & Rice in the latest round in a fierce fight for control of the country’s fourth largest supermarket chain.

The Bradford-based grocer confirmed on Thursday night it had accepted an improved offer of 285p per share from the private equity firm that bettered the offer on the table from rival suitor Fortress.

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