WM Morrison Says It Rejected CD&R Proposal at 230 Pence/Share
(Bloomberg) -- 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.
©2021 Bloomberg L.P.