Wm Morrison Supermarkets PLC - Bradford-based supermarket chain - Says GBP7 billion takeover by US private equity firm Clayton, Dubilier & Rice has been approved by shareholders following a general meeting. Says 99% of shareholders backed the takeover. Shares in the FTSE 100-listed grocer are expected to be cancelled on October 28.
Chair Andrew Higginson says: "We thank shareholders for the strong support received at today's meetings. We remain confident that CD&R will be a responsible, thoughtful and careful owner of Morrisons and we will now move forward with the remaining steps in the acquisition process."
Current stock price: 285.10 pence
Year-to-date change: up 61%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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