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22nd October 2021, 17:23

​Morrisons supermarket shareholders approve seven billion pound takeover by US-based Clayton, Dubilier & Rice

Morrisons supermarket shareholders have approved a seven billion pound takeover of its chain by US-based Clayton, Dubilier and Rice.

Morrisons has told GBC that the Gibraltar store is to continue operating as normal.

Private equity firm CD & R has been seeking to purchase the supermarket chain for months now, with an auction process sealing the deal last month.

Investors have now voted on the takeover with 99% in favour. With the sale now set to go ahead, the process will be complete by this Wednesday.

When asked by GBC how the sale might impact the Rock’s store, Morrisons said there are no plans for the Gibraltar store other than for it to continue operating as normal.

However, GBC has requested comment from CD & R.