Clayton, Dubilier & Rice is highest bidder in the battle for the UK's fourth-largest supermarket group.
Morrisons was founded in Bradford in 1899 - where it still has its headquarters. The group has almost 500 shops and more than 110,000 staff.Previously, CD&R said it recognised Morrisons' "history and culture, and considers that this strong heritage is core to Morrisons and its approach to grocery retailing".
Morrisons chairman, Andrew Higginson, and chief operating officer, Trevor Strain, previously worked with Sir Terry at Tesco. With the UK hit hard by the pandemic and the value of the pound still below its pre-Brexit value, UK businesses may appear cheap to non-UK investors, argues the BBC's business editor Simon Jack.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Morrisons to have new owner after US firm outbids rival at auctionBREAKING: Morrisons has new owner after US firm outbids rival at auction
Read more »
Cargo ships anchored off US face 4-WEEK wait amid supply chain crisisDozens of cargo ships anchored off the Atlantic and Pacific coasts of the US face unprecedented wait times while railyards and trucking routes are hopelessly clogged due to a lack of manpower.
Read more »
Cargo ships anchored off US face 4-WEEK wait amid supply chain crisisDozens of cargo ships anchored off the Atlantic and Pacific coasts of the US face unprecedented wait times while railyards and trucking routes are hopelessly clogged due to a lack of manpower.
Read more »
Queen says 'eyes of the world will be on us' ahead of crunch climate summitShe also made moving references to Prince Philip and the pandemic at the opening of the Scottish Parliament.
Read more »
Christina Aguilera just wore a classic secondary school hairstyle and it’s giving us nostalgiaShe really is the moment
Read more »
Tell us: how will you be affected by the cut to Universal Credit?We’re interested to hear how people receiving Universal Credit will be impacted by lower payments from the end of September
Read more »