LONDON (Reuters) – WM Morrison investor Silchester said on Tuesday it is not inclined to support a takeover offer from private equity firm Fortress offer at the upcoming court and shareholder meeting.
Silchester, which owns a 15.14% stake in the British supermarket chain, said in a statement that there is little in the recommended offer that could not be achieved by Morrison as a listed company.
It added that it considers schemes of arrangement, with a 75% hurdle for shareholder acceptance and squeeze out, to be disadvantageous to public shareholders generally.
(Reporting by Abhinav Ramnarayan; Editing by Rachel Armstrong)
