LONDON: British supermarket group Morrisons has rejected a proposed 5.52 billion pound ($7.62 billion or RM31.54bil) cash offer from U.S. private equity firm Clayton, Dubilier & Rice (CD&R), saying it is far too low.
Britain's fourth largest grocer by sales after Tesco, Sainsbury's and Asda, said it received the "unsolicited, highly conditional non-binding" proposal of 230 pence a share on Monday.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
