1 Minute Read by Reuters Staff (Adds detail on holding) (Reuters) – LONDON, July 5 (Reuters) – The $8.7 billion buyout bid for British supermarket operator Morrisons led by Fortress Investment Group is “excellent value,” according to abrdn CEO Stephen Bird. According to Refinitiv statistics, Abrdn, previously Standard Life Aberdeen, is the fifteenth largest stakeholder in Britain’s fourth largest supermarket business. According to an abrdn spokeswoman, the asset manager’s holdings are passive, or index-tracking, investments. Morrisons announced on Saturday that its board, led by Chairman Andrew Higginson, has recommended a 6.3 billion pound ($8.7 billion) buyout by SoftBank-owned Fortress Investment Group. “I think the Morrisons deal is good value,” abrdn’s Bird told Reuters. Morrisons is also being pursued by other private equity firms. (Carolyn Cohn contributed reporting; Dhara Ranasinghe and Alexander Smith edited the piece.)/n
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