Among the unhappy shareholders was Rupert Krefting, head of corporate finance and stewardship at M&G, which manages £370 billion and owns just over 1 percent of the company’s shares. He said the Fortress offer didn’t represent the “true value” of Morrisons.The Fortress group increased its offer, and then Clayton, Dubilier & Rice returned with an even higher offer of £7 billion, 63 percent above Morrisons’ market value before its first rejected offer two months ago.“We’re heading in the right direction,” Mr. Krefting said after the latest offer. Shareholders are expected to vote on the deal in October.If a …
