Fortress mulls options after Morrisons agrees rival CD&R takeover offer ...Qatar

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Fortress mulls options after Morrisons agrees rival CD&R takeover offer
Shares in Morrisons jumped above the level of an agreed takeover offer from US private equity group Clayton, Dubilier & Rice (CD&R) yesterday, indicating a protracted bid battle for the British supermarket group may yet have further to run. The UK’s fourth-largest grocer is the subject of the most high-profile deal amid a raft of bids and counter bids playing out in Britain, reflecting private equity’s appetite for UK Plc. The latest twist in the saga came late Thursday when Bradford, northern England, based Morrisons said its board would unanimously recommend CD&R’s 285 pence a share offer worth £7bn ($9.5bn) and drop its previous recommendation for a £6.7bn bid from a consortium led by So

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