WM Morrison Says It Rejected CD&R Proposal at 230 Pence/Share

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U.K. grocery chain Wm Morrison Supermarkets Plc said it rejected a cash offer from Clayton Dubilier & Rice LLC at 230 pence per share.

The company said in a statement that the offer “significantly undervalued Morrisons and its future prospects.”

Morrison said it received the unsolicited proposal on June 14 and rejected it on June 17.

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