The battle for British supermarket group Morrisons

Oct 2 (Reuters) – Morrisons , Britain’s fourth-largest grocery store group, is the topic of the nation’s most high-profile takeover battle with a raft of bids and counter bids reflecting personal fairness’s urge for food for UK Plc.

Here’s a timeline of occasions to date.

June 19

Morrisons rejects a proposed 5.52 billion pound ($7.43 billion)money provide from Clayton, Dubilier & Rice (CD&R).

June 30

Morrisons investor JO Hambro says CD&R ought to enhance its provide to round 6.5 billion kilos.

July 3

Morrisons agrees to a 6.3 billion pound provide from a consortium led by SoftBank-owned Fortress Funding Group . It emerges Fortress made an preliminary strategy in early Might.

July 5

A 3rd personal fairness group, Apollo International Administration, says it’s evaluating a doable provide for Morrisons.

July 20

Apollo says it won’t bid for Morrisons by itself however could be part of the Fortress consortium.

July 22

Scheme doc outlining Fortress’ provide is revealed and Aug. 16 set for Morrisons’ shareholders to vote on provide. UK Takeover Panel offers CD&R till Aug. 9 to announce a agency intention to make a proposal or stroll away.

July 27

Silchester, Morrisons’ largest shareholder, says not inclined to assist Fortress provide.

July 28

Singapore’s GIC sovereign wealth fund joins Fortress-led consortium.

July 29

Morrisons investor M&G says Fortress provide doesn’t mirror the worth of the group.

Aug. 6

Morrisons agrees to an improved provide price 6.7 billion kilos from Fortress consortium and adjourns till Aug. 27 a shareholder assembly to vote on the provide.

Aug. 9

Takeover Panel extends CD&R’s “put-up or shut-up” deadline till Aug. 20.

Aug. 19

Morrisons agrees to a 7.0 billion pound (285 pence a share) provide from CD&R and drops the Fortress advice. Fortress says it’s “contemplating its choices”. Morrisons says Aug. 27 shareholder assembly will as an alternative be held round week beginning Oct. 4.

Aug. 23

Morrisons shareholder Authorized & Normal says it believes the true worth of the grocery store group needs to be realised following CD&R’s sweetened bid, with extra consideration now being paid to its property belongings.

Aug. 24

Morrisons’ pension schemes warn a takeover by both CD&R or Fortress may “materially weaken” the safety of the schemes if no further safety is agreed.

Aug. 27

Morrisons says scheme doc for CD&R’s provide to be revealed on or round Sept. 11. It says shareholder assembly to vote on CD&R provide might be held on or round Oct. 5.

Sept. 8

Morrisons says it’s in talks with CD&R, Fortress and the Takeover Panel over an public sale course of. It says scheme doc for CD&R’s provide to be revealed round Sept. 25, with a shareholder assembly round Oct. 18.

Sept. 14

CD&R reaches settlement with pension trustees to offer further safety and assist.

Sept. 25

Scheme doc for CD&R’s provide revealed. Shareholder assembly slated for Oct. 19.

Sept. 29

Takeover Panel says public sale might be held on Oct. 2.

Oct. 2

CD&R wins the public sale, bidding 287 pence a share versus Fortress’ 286 pence.

($1 = 0.7427 pound)

Reporting by James Davey; enhancing by Christina Fincher

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