LONDON, Sept 14 (Reuters) - Morrisons suitor Clayton
Dubilier & Rice said it had reached agreement with the pension
trustees of the British supermarket chain to provide additional
security and support to the schemes, as it seeks to clinch the
deal ahead of a rival bidder.
Morrisons is at the centre of a bid battle between two U.S.
private equity firms.
The supermarket group agreed a 7 billion pound offer from
Clayton, Dubilier & Rice (CD&R) in August, but a rival
consortium led by Softbank-owned Fortress Investment
Group could still trump the bid and the battle looks to be
heading for an auction.
Chairman of the Trustees, Steve Southern, said that under
CD&R, the outcome for Morrisons pensioners would be positive.
"We are pleased with the progress made and CD&R's ability to
provide the necessary support and reassurance to the Schemes,"
he said in a statement on Tuesday.
(Reporting by Sarah Young; Editing by Kate Holton)
