The US private equity group Clayton, Dubilier & Rice has expressed interest in acquiring WM Morrison. The board has rejected the offer price of 230p per share, stating that it substantially undervalues the firm. Reportedly, the bidder is planning to sweeten the bid. We would not be surprised if the target firm receives a counter-bid also, from the likes of Amazon. Nonetheless, we expect the M&A action to continue in the (undervalued) European food retail sector.
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Morrison hits the jackpot!
- Published:
21 Jun 2021 -
Author:
Nishant Choudhary -
Pages:
3
The US private equity group Clayton, Dubilier & Rice has expressed interest in acquiring WM Morrison. The board has rejected the offer price of 230p per share, stating that it substantially undervalues the firm. Reportedly, the bidder is planning to sweeten the bid. We would not be surprised if the target firm receives a counter-bid also, from the likes of Amazon. Nonetheless, we expect the M&A action to continue in the (undervalued) European food retail sector.