Morrison stakeholder Silchester says not inclined to support Fortress takeover

  • 7/27/2021
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LONDON, July 27 (Reuters) - WM Morrison investor Silchester said on Tuesday it is not inclined to support a takeover offer from private equity firm Fortress offer at the upcoming court and shareholder meeting. Silchester, which owns a 15.14% stake in the British supermarket chain, said in a statement that there is little in the recommended offer that could not be achieved by Morrison as a listed company. It added that it considers schemes of arrangement, with a 75% hurdle for shareholder acceptance and squeeze out, to be disadvantageous to public shareholders generally. (Reporting by Abhinav Ramnarayan Editing by Rachel Armstrong) Our Standards: The Thomson Reuters Trust Principles.

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