CD&R set to continue pursuit of Morrisons in UK, says FT By Reuters

© Reuters. FILE PHOTO: A Morrisons store is pictured in St Albans, Britain September 10, 2020. REUTERS / Peter Cziborra

(Reuters) – US private equity firm Clayton, Dubilier & Rice (CD&R) is set to continue its lawsuit of UK supermarket chain Morrisons despite the rejection of its initial offer, the Financial Times reported on Sunday.

CD&R now plans to wait to assess investor reaction and signs of a possible political pullback before deciding on its next steps, the newspaper reported, citing people familiar with the discussions.

Morrisons had rejected a proposed CD&R £ 5.52 billion ($ 7.62 billion) cash offer on Saturday, saying it was far too low.

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