LONDON, July 29 (Reuters) - British money manager M&G
has said that a proposed private equity takeover of
British supermarket chain Morrisons does not reflect the
true value of the company.
Morrisons this month agreed to a takeover led by SoftBank
Group Corp-owned Fortress, which valued Britain's
fourth-largest supermarket chain at about 6.3 billion pounds
($8.80 billion), which topped a rival offer from Apollo.
Rupert Krefting, head of corporate finance and stewardship
at M&G, which owns a 1.08% stake in Morrisons, said in an
emailed statement that Fortress's proposals could be achieved by
the supermarket chain while remaining in public ownership.
($1 = 0.7160 pounds)
(Reporting by Abhinav Ramnarayan. Editing by Jane Merriman)