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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.
Caterpillar’s Rob Rengel will join ATI Inc. on June 22 as VP-investor relations, succeeding the retiring David Weston.
Hut 8, energy infrastructure platform, has named NextEra Energy's Mark Eidelman head of IR and SVP of strategic finance.
Teneo handles easyJet as Minneapolis investment firm Castlelake mulls a possible takeover of the British budget airline.
Brunswick Group represents Universal Music Group as it rejects the unsolicited $65B takeover offer by billionaire Ed Ackman's Pershing Square Capital Management because it “fundamentally and materially undervalues” the world’s largest music company.
Prosek Partners brings on Danielle O’Brien as a managing director in its investor relations practice, based in the firm’s New York office.
