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Reuters

Morrisons investors set to rubber stamp $10 billion CD&R takeover

Shareholders in supermarket group Morrisons are expected on Tuesday to approve a 7 billion pound ($9.6 billion) offer by U.S. private equity firm Clayton, Dubilier & Rice (CD&R), bringing the curtain down on Britain’s most fiercely contested takeover this year. CD&R, which has former Tesco boss Terry Leahy as a senior adviser, won an auction for Morrisons on Oct. 2, bidding a penny a share more than a consortium led by Softbank owned Fortress Investment Group. Investor approval for the deal will conclude a six-month battle to buy Morrisons, Britain’s fourth-biggest grocer and one of the country’s biggest food producers.