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Morrisons shares surge 30% after it spurns £5.5bn takeover offer

June 21, 2021

Via: Sky News

The rise, which comes after Sky News this weekend revealed details of the offer from US buyout giant Clayton Dubilier & Rice (CD&R), added more than £1bn to the group’s market value.

Rivals Sainsbury’s and Tesco also rose, adding 4% and 2% respectively, as investors digested the implications of the approach for the wider supermarket sector.

Meanwhile, the possibility of another one of Britain’s supermarkets being swallowed up in a private equity deal – after Asda was sold to a consortium led by the billionaire Issa brothers – has raised concerns from Labour.

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