US private equity firms Fortress and Clayton, Dubilier & Rice must submit formal bids
The battle to take over Morrisons will be decided in a one-day auction on Saturday, the supermarket has announced, as two US private equity firms compete for the UK’s fourth biggest grocery chain.
Fortress and Clayton, Dubilier & Rice (CD&R) must submit formal bids, with the auction process on Saturday running for a maximum of five rounds.