Norton Rose Fulbright advises on £7 billion rival offer for Morrisons

Global law firm Norton Rose Fulbright is advising Goldman Sachs and J.P. Morgan as financial advisers to Clayton, Dubilier & Rice (CDR) on its £7 billion competing recommended cash offer for WM Morrison Supermarkets plc (Morrisons). Morrisons is already subject to a firm offer from a consortium led by Fortress.

Morrisons began as a Bradford market stall in 1899 and has grown to become the UK's fourth largest supermarket chain, employing over 110,000 people across the UK. Under the terms of the offer, Morrisons shareholders will receive 285 pence per share in cash.

CD&R is a private investment firm that manages capital on behalf of university endowments, foundations and pensions, with offices in New York and London and has been investing in Europe for more than 20 years, partnering with 21 businesses for an aggregate transaction value of approximately £22 billion. This has included businesses in the UK and across retail and food service.

The London-based Norton Rose Fulbright team is being led by corporate partners Paul Whitelock and Kit McCarthy and banking partner James Dunnett with support from senior associate Joshua Temkin and associate Florence Childs.

Led by Paul Whitelock, Norton Rose Fulbright has also been advising on the £1 billion competitive bid battle for Vectura Group plc. The Norton Rose Fulbright team is advising BofA Securities plc as financial adviser to Philip Morris International.