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Teneo handles private equity firm Clayton, Dubilier & Rice as it considers a possible cash deal for Wm. Morrison Supermarkets plc, which is Britain’s No. 4 chain.
Under UK takeover rules, CD&R has until July to make a firm offer for Morrisons.
The chain’s board of directors on June 19 rejected CD&R’s “unsolicited highly conditional non-binding proposal.”
After discussion with financial advisor Rothschild & Co., Morrisons’ board determined that CD&R's $7.6B offer “significantly undervalued Morrisons and its future prospects.”
Reuters reported that Terry Leahy, who transformed Tesco into the UK’s No. 1 supermarket chain, is advising CD&R.
Teneo’s Philip Gawith and Haya Herbert-Burns represent CD&R, which acquired Huntsworth Group (owner of Grayling, Red and Citigate Dewe Rogerson PR firms) for $520M in 2020.
Prosek Partners represents Nuveen as it acquires London-based Schroders, which relies on Brunswick Group for PR counsel, in a $13.5B deal.
Qualcomm has recruited Brett Simpson for the senior VP-IR slot at the San Diego-based wireless technology company.
Reevemark handles Eddie Bauer LLC as the retailer inks a Chapter 11 restructuring pact that has it conducting liquidation sales at its US and Canadian stores while working to find a buyer for either all of or part of the chain.
Prosek Partners hires FTI Consulting vet David Roady to build and deepen its relationships in the corporate sector, particularly with chief communications officers and C-suite executives.
Kekst CNC handles Crestview Partners as the private equity firm acquires Tailwind Hospitality, operator of food, beverage and retail concessions in non-hub and regional airports, from Palladin Consumer Retail Partners.
