Both Usdaw and the shadow minister for business and consumers have raised concerns about private equity ownership of UK grocers as takeover speculation mounts.
Following the shock £5.5bn takeover bid for the UK’s fourth largest grocer Morrisons by New York-based private equity firm Clayton Dubilier & Rice (CD&R) yesterday, both the shopworkers’ union and Labour MP Seema Malhotra have called on greater oversight to stop private equity owners stripping grocers’ assets and slashing jobs in the process.
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