Morrisons shareholders have rubber-stamped the £7bn takeover of the grocer by Clayton, Dubilier & Rice (CD&R) nearly four months after private equity interest in the retailer first emerged.
At an extraordinary general meeting of Morrisons shareholders today, the bid from the New York-based private equity firm was waved through with more than 75% of required shareholders backing the proposed deal.
Morrisons chair Andy Higginson said: “We thank shareholders for the strong support received at today’s meetings. We remain confident that CD&R will be a responsible, thoughtful and careful owner of Morrisons and we will now move forward with the remaining steps in the acquisition process.”
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