 Morrisons has struggled since buying rival Safeway |
Morrisons could be about to face a �6bn takeover approach from a consortium of private equity firms, a newspaper report has suggested. The consortium, which comprises Texas Pacific, CVC and Permira, is keen to talk to the Bradford-based supermarket chain, according to the Observer.
Any move for Morrisons comes as it continues to try to turnaround its fortunes after a difficult few years.
Morrisons has struggled ever since buying rival Safeway for �3bn in 2004.
New boss
Difficulties in merging the two businesses led to Morrisons issuing a number of profit warnings, and in March of this year it posted its first ever annual loss - �312.9m.
The problems led to pressure for Morrisons' chairman Sir Ken Morrison to stand down.
Although Sir Ken is going to stay on in the chairman role until 2008, he is handing over day-to-day control at the firm to new chief executive Marc Bollard in September.
Mr Bollard is joining the supermarket from Dutch beer giant Heineken.
Things may already be improving at Morrisons, which recently posted a 6% increase in sales for the 16 weeks to 21 May.
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