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Morrisons suitor CD&R given more time to make counter offer

Morrisons suitor CD&R given more time to make counter offer
Morrisons suitor CD&R given more time to make counter offer   -   Copyright  Thomson Reuters 2021
By Reuters

LONDON – Morrisons suitor, U.S. private equity group Clayton, Dubilier & Rice (CD&R), has been given more time to consider a counter takeover bid for the supermarket group.

Britain’s Takeover Panel, which regulates takeover activity, said on Monday CD&R would have until August 20 to announce a firm intention to make an offer for Morrisons or walk away, a so-called “put-up or shut-up” order, extending a previous deadline of August 9.