The Great British Sell-off
What do private equity firms gain by buying a supermarket chain?
Morrisons turned down £6.3 billion because their biggest shareholder didn’t like the offer, then the board backed the second offer. A megadeal worth £6.7 billion backed by US billionaire Koch family and Japanese mogul Masayoshi Son. However, a last-minute £7 billion bid beat the consortium of investment bidders.