Ex-Tesco boss Leahy in bid for Morrisons

THE former Tesco boss Sir Terry Leahy is leading a £5.5billion private equity bid for supermarket Morrisons.

New York-based Clayton Dubilier & Rice, for whom Sir Terry works, is working with Goldman Sachs on the offer for Britain’s fourth biggest supermarket chain. The board of Morrisons, which is being advised by Rothschild, last night said it had rejected the 230p a share “non-binding proposal”.

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