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The offer is being led by Softbank-owned Fortress which has partnered with Canada Pension Plan Investment Board and Koch Real Estate Investments.

The total value of the deal comes to £9.5billion.

Morrison’s equity has been valued by the investment group at £6.3bn, including £3.2bn of net debt under the takeover.

The supermarket giant has spent more than 50 years as a publicly listed company having been on the London Stock Exchange since 1967.

In 20-01, Morrison’s entered the FTSE 100 for the first time.

Richard Lim, CEO of Retail Economics, said: “This signals the biggest shakeup in the UK grocery sector for over a decade.”

This is a breaking story. More to follow…

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