CD&R Is Said to Ready Latest Salvo in $9 Billion Morrison Battle

Buyout firm Clayton Dubilier & Rice is putting the finishing touches on a higher offer for British grocer Wm Morrison Supermarkets Plc as it ratchets up a bidding war with Fortress Investment Group, people with knowledge of the matter said.

CD&R is aiming to submit a revised bid as soon as Thursday that will top its earlier proposal of 230 pence per share, according to the people, who asked not to be identified because the information is private.

To stay competitive, CD&R will need to beat Fortress’s latest bid, which would hand Morrison investors 270 pence per share ...