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Morrisons agrees to £6.3 billion takeover by investment consortium

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Don't miss a thing by getting the day's biggest stories sent direct to your inbox The supermarket giant Morrisons has agreed to a £6.3 billion takeover bid from a consortium of investment groups it was announced this morning.

The offer from the Fortress Investment Group, Canada Pension Plan Investment Board and Koch Real Estate Investments will pay 252p per share plus a 2p special dividend.

The deal comes after bosses at the Yorkshire-based supermarket chain last month rejected a takeover proposal from New York-based firm Clayton, Dubilier & Rice (CD&R). READ MORE: The things I learnt looking for a flat in south Manchester The offer now will now be subject to shareholder approval.

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