A new offer is expected for Morrisons this week as Clayton Dubilier & Rice seeks to trump Fortress.
CD&R has until Friday to submit a bid to rival Fortress’s £6.7bn offer, and to convince the board to change its recommendation.
It is thought that CD&R will have to offer at least 275p a share, although industry observers have suggested that a bid of 280p would be more meaningful.
Sources say the Morrisons board and the Takeover Panel would not have agreed to give Clayton Dubilier & Rice more time if they had not been confident that it would result in a rival offer. The board delayed the shareholder vote on the Fortress bid.
Morrisons owns nearly 500 stores, as well as associated logistics, factories, farms and 85% of its freeholds.
