Wm Morrison (Morrisons) is the UK's fourth-largest supermarket chain. Due to its low valuation since the start of the pandemic, several PE groups have approached Morrisons since early 2021. In October 2021, PE group CD\&R won the takeover battle in an auction process, and Morrisons has been delisted from the LSE. In groups, you need to research FT news (or other reliable financial news) to answer the questions below (search for "Wm Morrison Supermarkets PLC"). Examples of FT articles where you can find some answers: How a private equity buyer could make the most of Morrisons / Financial Times (ft.com) Wm Morrison/CD\&R; asset sales needed to cover high price / Financial Times (ft.com) Questions: 1. In October 2021, how much was the final offer for Morrisons' shares and how did it compare to its share price early June 2021 (before the start of the takeover battle)? Can you say that the LBO created value for Morrisons' shareholders (at least in the short-term)? 2. What characteristics (or factors) made Morrisons a strong LBO candidate? 3. Identify different restructuring strategies that the PE firm CD\&R could use to increase the value of Morrisons