Supermarket chain Morrisons has accepted a £6.3bn ($8.7bn) takeover bid by a US investment group led by the owner of Majestic Wines.
Last month, the supermarket group turned down an offer from a different firm, saying it had significantly undervalued the business.
Morrisons chairman, Andrew Higginson, said the new offer was fair, and the chain would “continue to prosper”.
Morrisons has nearly 500 shops, including Grantham,and more than 110,000 staff in the UK.
The Grantham store opened in 1984 and is the oldest supermarket still operating in Grantham. Hundreds of houses in Stanton Street, Rutland Street, and Welby Street were bulldozed to make way for the then Bradford-based business.
The deal is subject to shareholder approval but the supermarket group’s directors are recommending it is unanimously voted for.
The takeover is led by US private equity group Fortress Investment Group.
Under the terms of the deal shareholders will receive 254p per share – which Morrisons said was a 42% premium on its share price before the offer period – brought about with the disclosure of the rejected offer.
The UK’s fourth largest supermarket group turned down the bid worth £5.5bn from Clayton Dublier & Rice in June.
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