UK’s Takeover Panel says private equity group has until 5pm on 20 August
The bidding war for Morrisons has taken another twist after one of its suitors, the US private equity group Clayton, Dubilier & Rice, was given more time to consider a rival offer.
The UK’s Takeover Panel, which regulates takeover activity, said it had given CD&R until 5pm on 20 August to announce a firm intention to make an offer for Morrisons or walk away, known as a “put up or shut up” deadline, an extension of the previous 9 August deadline.
