Morrisons: Bidding war looms for supermarket as rivals circle

The market clearly expects a bid battle. This morning Morrisons shares were up 11% to 269p, well above the price agreed between the board and Fortress of 254p a share. CDR may return, Apollo is waiting in the wings, and some have still not given up hope of Amazon joining the fray. At the moment, however, Fortress, with a recommendation from the Morrisons’ directors tucked into its back pocket, remains the favourite.

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