UK Grocer To Go Private In £6.3B Deal Led By 2 Law Firms
Law360 (July 3, 2021, 12:03 PM EDT) -- A Slaughter and May-advised consortium led by Fortress Investment Group will buy Ashurst-led Morrisons for roughly £6.3 billion ($8.7 billion), in a Saturday deal that comes after the British grocery store chain spurned earlier advances.
Britain's fourth-largest supermarket chain, Morrisons, has accepted a £6.3 million takeover bid from Oppidum Bidco Ltd., led by Fortress Investment Group, after spurning advances from private equity firm Clayton Dubilier & Rice. (iStock) The transaction sees Oppidum Bidco Ltd. — an entity comprising SoftBank-backed Fortress Investment Group LLC, Canada Pension Plan Investment Board and Koch Real Estate Investments — picking up Wm Morrison Supermarkets PLC, according to...
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