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Morrisons rejects a 5.5 billion pounds private equity bid

American private equity firm Clayton Dubilier & Rice (CD&R) recently tried to buy British grocer Morrisons. CD&R offered a preliminary private equity bid worth 5.5 billion pounds to takeover Morrisons, though the supermarket chain valued at 4.3 billion pounds on the stock exchange last week. The reason proposed by Morrisons for rejecting the bid is the undervaluation of the retailer’s total worth and its future growth prospects. Analysts predict that CD&R might come back with a higher bid soon.

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