Fortress offer for Morrisons is “good value” -investor abrdn CEO By Reuters

LONDON (Reuters) – The $8.7 billion takeover offer for supermarket chain Morrisons led by Fortress Investment Group is “good value”, the chief executive of Morrisons investor abrdn said on Monday.

“I think the Morrisons deal is good value, I think it’s a smart thing to do,” abrdn CEO Stephen Bird told Reuters.

On Saturday Morrisons said the board, led by Chairman Andrew Higginson, had recommended a takeover led by SoftBank owned Fortress Investment Group that valued the firm at 6.3 billion pounds ($8.7 billion).

Abrdn, formerly Standard Life (LON:ABDN) Aberdeen, is a number 15 investor in Britain’s fourth largest supermarket group, according to Refinitiv data.

Other private equity groups are also vying for Morrisons.