Morrisons backs £7bn takeover offer from ex-Tesco boss Leahy and CD&R

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Morrisons has recommended a £7bn offer from private equity giant Clayton, Dubilier & Rice (CD&R), which has trumped a rival bid from Fortress.

The grocer said on Thursday evening that CD&R, which is advised by former Tesco chief executive Sir Terry Leahy, had tabled an offer valuing it at 285p per share.

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