Morrisons is in discussions with the stock market's Takeover Panel with regards an auction process for the chain. Bosses hope to bring to an end the three-month battle for the business between two private equity firms, Clayton, Dubilier & Rice (CD&R) and Fortress.
Morrisons said that, on the basis that neither bidder has declared their offer final, "such that either offer may be further increased or otherwise revised, a competitive situation continues to exist".
As a result, the company has started talking with the Takeover Panel and the bidders "in order to begin discussions around an orderly framework for the resolution of this competitive situation".
Read more on dailyrecord.co.uk
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