Sale of UK supermarket giant Morrisons headed for auction

The €8.4bn takeover battle for the British supermarket group between two American private equity groups looks set to be decided by a rarely-used auction process

The ownership battle for Morrisons seems destined for auction.

The $10bn (€8.4bn) takeover battle for British supermarket group Morrisons between two American private equity groups looks set to be decided by a rarely-used auction process.

Morrisons said it was in talks with Clayton, Dubilier & Rice (CD&R), Fortress Investment Group and Britain's takeover regulator about an auction to settle its future.