finance

CD&R set to continue pursuit of UK's Morrisons, FT says


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© Reuters. FILE PHOTO: A customer wearing a protective face mask shops at a Morrisons store in St Albans, Britain, September 10, 2020. REUTERS/Peter Cziborra/File Photo

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(Reuters) – U.S. private equity firm Clayton, Dubilier & Rice (CD&R) is set to push ahead with its pursuit of British supermarket chain Morrisons despite its initial offer being rejected, the Financial Times reported on Sunday.

CD&R now plans to wait to gauge investor reaction and signs of any political pushback before deciding on its next steps, the newspaper reported, citing people familiar with the discussions.

Morrisons had rejected a proposed 5.52 billion pound ($7.62 billion) cash offer from CD&R on Saturday, saying it was far too low.

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