Editing Morrisons (section)

===CD&R takeover===
In June 2021, Morrisons rejected a £5.5&nbsp;billion takeover bid from private equity firm [[Clayton, Dubilier & Rice]] (CD&R) believing it "significantly undervalued" the company.<ref>{{cite news|url=https://www.theguardian.com/business/2021/jun/19/private-equity-firm-mulls-cash-offer-for-morrisons|title=Morrisons rejects £5.5bn takeover offer from private equity firm|work=The Guardian|date=19 June 2021|accessdate=20 June 2021}}</ref>

In July 2021 a bid to take over Morrisons, led by US private equity firm, [[Fortress Investment Group]] and backed by the [[Canada Pension Plan]] and [[Koch Industries]], valuing the company at £6.3&nbsp;billion ($8.7&nbsp;billion), was made. This bid was provisionally accepted by the board, subject to shareholder approval, on 3 July 2021.<ref>{{cite web |url=https://www.londonstockexchange.com/news-article/market-news/recommended-offer-for-wm-morrison-supermarkets-plc/15044781 |date=3 July 2021 |title=Rule 2.7 Announcement – Offer from Fortress |website=London Stock Exchange}}</ref><ref>{{cite news |url=https://www.bbc.co.uk/news/business-57705253 |title=Morrisons: Supermarket agrees £6.3bn takeover |date=4 July 2021 |work=[[BBC News]]}}</ref> Following the Fortress bid, [[Apollo Global]] were considering a bid, leading to speculation of a bidding war,<ref>{{cite news |url=https://www.bbc.co.uk/news/business-57718738 |work=[[BBC News]] |title=Morrisons: Bidding war looms for supermarket as rivals circle |date=7 July 2021}}</ref><ref>{{cite news |url=https://www.ft.com/content/5a435638-2bb1-4961-893a-e2c8037f37af |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/5a435638-2bb1-4961-893a-e2c8037f37af |archive-date=10 December 2022 |url-access=subscription |title=A Wm Morrison bidding war is a failure of public markets |work=[[Financial Times]] |date=5 July 2021 |first=Bryce |last=Elder}}</ref> but Apollo Global withdrew and supported the Fortress bid.<ref>{{cite news |url=https://www.bbc.co.uk/news/business-57899237 |title=Prospect of Morrisons bidding war recedes |date=20 July 2021 |work=[[BBC News]]|accessdate=20 July 2021}}</ref> On 6 August 2021, the Fortress-led consortium increased its offer to £6.7&nbsp;billion ($9.29&nbsp;billion) after [[Silchester International Investors]], Morrisons largest shareholder, said the previous offer was too low.<ref>{{cite web|date=6 August 2021|title=Fortress-led group increases offer for Morrisons to £6.7bn|url=http://www.theguardian.com/business/2021/aug/06/fortress-offer-morrisons-bidder|access-date=6 August 2021|website=The Guardian}}</ref> The Morrisons board once again recommended the deal to shareholders.<ref>{{cite news|date=6 August 2021|title=Morrisons agrees to raised £6.7bn takeover offer from Fortress|work=BBC News|url=https://www.bbc.com/news/business-58112224|access-date=6 August 2021}}</ref> However, on 19 August 2021 an improved offer of £7&nbsp;billion from CD&R was recommended by the board of Morrisons to shareholders; the board dropped its recommendation for Fortress's offer.<ref>{{cite news |url=https://www.bbc.co.uk/news/business-58273916 |title=Morrisons backs US firm's improved takeover offer |date=20 August 2021 |work=BBC News|accessdate=20 August 2021}}</ref>

In October 2021 the £7&nbsp;billion CD&R bid was accepted;<ref>{{cite news|date=2 October 2021|title=Morrisons: US firm wins auction to take over supermarket chain|work=BBC News|url=https://www.bbc.com/news/business-58773825|access-date=2 October 2021}}</ref> the takeover was approved by the High Court on 26 October 2021.<ref>{{cite news|url=https://www.insidermedia.com/news/yorkshire/7.1bn-morrisons-takeover-sanctioned|title=£7.1BN Morrisons takeover sanctioned|newspaper=Insider Media|date=26 October 2021|access-date=26 October 2021}}</ref>

In May 2022, Morrisons purchased [[McColl's]] in a [[pre-packaged insolvency]] arrangement with its administrator, with all stores eventually converting to the Morrisons Daily fascia.<ref>{{cite news|title=Morrisons wins race to buy McColl's ahead of Asda owners|url=https://www.theguardian.com/business/2022/may/09/morrisons-asda-owners-mccolls-administration |newspaper=[[The Guardian]]|date= 9 May 2022|access-date=10 May 2022}}</ref>

In February 2023, 16 months after the CD&R takeover of the 124-year-old chain, it was reported as having "fallen into a hole that just keeps getting deeper".<ref name=butler>{{cite news | last=Butler | first=Sarah | title=Is private equity tearing the soul out of Morrisons supermarket? |newspaper=The Guardian | date=27 February 2023 | url=https://www.theguardian.com/business/2023/feb/27/is-private-equity-tearing-the-soul-out-of-morrisons-supermarket}}</ref>

The chain's underlying profits had dropped by 15% to £828&nbsp;million in the year ending 30 October; sales dropped by 4.2% despite prices increasing sharply—implying an even greater loss in volume of sales—for a pre-tax loss of £33&nbsp;million. Morrisons' net debt obligations had been £3.2bn before the CD&R takeover, and had increased to £7.5&nbsp;billion. A former senior Morrisons executive said "[CD&R] paid too much and now they have to claw that back".<ref name=butler/> Unlike any other UK supermarket, Morrisons has a manufacturing arm including [[abattoir]]s, vegetable packing houses and fish processing plants comprising a vertically integrated supply chain. An industry insider suggested that this may be sold, which would mean a complete change of course for the company.<ref name=butler/>

On 6 November 2023 [[Rami Baitiéh]]  succeeded David Potts as Chief Executive.<ref>{{cite web|url=https://www.thegrocer.co.uk/people/what-must-new-ceo-rami-baitieh-do-to-turn-morrisons-around/685015.article|title=What does new CEO Rami Baitiéh need to do to turn Morrisons around and how is he likely to go about it?|newspaper=The Grocer|date=6 November 2023|access-date=6 November 2023}}</ref>