In the context of the acquisition of public limited companies in England and Wales, consider the takeover of Wm
Morrison Supermarkets PLC (Morrisons) by Clayton, Dubilier & Rice (CD&R).
In preparing your report you need to address the following areas:
1. Identify and explain the legal basis of the takeover.
2. Describe the terms of the bid.
3. Identify the nature of the bidder and explain what happened to the shares in Morrisons.
4. Investigate CD&R’s motives in wishing to acquire Morrisons.
5. Investigate and analyse the risks and challenges that face Morrisons following completion of the acquisition.
6. Give your opinion on whether you believe the acquisition was a sensible deal for both Morrisons and CD&R