CD&R Seen as Natural Fit for Morrisons -- Market Talk

Dow Jones Newswires · Aug 20, 2021 16:19

DJ CD&R Seen as Natural Fit for Morrisons -- Market Talk

0819 GMT - Clayton Dubilier & Rice always seemed like the more natural fit for Wm. Morrison Supermarkets, AJ Bell analyst Danni Hewson says, after the U.S. private-equity group agreed to buy Morrisons for GBP7 billion. CD&R already owns U.K. petrol and convenience retailer Motor Fuel Group. "Its forecourt operation might require a few tweaks to please the U.K.'s competition watchdog but adding Morrisons' to the portfolio will put them in a strong position to be at the forefront of the switch to electric," Hewson says. CD&R's offer meant the U.K. grocer withdrew its recommendation for an earlier bid from a consortium led by SoftBank Group's Fortress Investment. Shares in Morrisons rise 4.2%. (adria.calatayud@dowjones.com)

(END) Dow Jones Newswires

August 20, 2021 04:19 ET (08:19 GMT)

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CD&R Seen as Natural Fit for Morrisons -- Market Talk

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