Private equity rivals Clayton, Dubilier & Rice and Fortress are leapfrogging each other

Morrisons shares have surged again as investors bet the £7bn price tag on the company could go higher still amid a private equity bidding war for control.

They closed up 4% at 291p, 6p more than the 285p a share offer lodged on Thursday by US group Clayton, Dubilier & Rice (CD&R). The £7bn offer is £300m more than the £6.7bn on the table from rival suitor’s Fortress but the share price move suggests the winner may have to dig even deeper as that 6p equates to more than £150m.

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Source: Business – The Guardian

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