Leahy returns to grocery as Morrisons board gives green light to CD&R deal

Morrisons shop sign, Leeds

Morrisons’ board has recommended acceptance of private equity group CD&R’s takeover offer, marking a likely return to grocery for former Tesco chief executive Sir Terry Leahy.

The Takeover Panel announced that after the bidding, CD&R’s 287p-per-share offer had edged out Fortress’s final bid of 286p per share for the grocer, meaning the final offer will now be put to the grocery giant’s board. 

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