DPHAY - Morrisons expected to enter FTSE 100 amid takeover bids

Morrisons (OTCPK:MRWSF +2.5%), the fourth largest UK supermarket chain, is poised to enter the FTSE 100 index. The company's shares surged 60% since June to a valuation of $9.6B after it received offers from private equity firms. Its inclusion in the index could be short given the bidders competing to take the firm private. U.S.-based Clayton, Dubilier & Rice and a syndicate led by SoftBank-owned Fortress Investment Group have both made offers for the supermarket chain. British broadcaster ITV (OTCPK:ITVPF), and engineering firm Weir Group (OTCPK:WEIGF) are expected to be dropped from the FTSE 100 blue-chip index, along with Just Eat Takeaway.com (GRUB +2.0%) after its nationality was reassigned to the Netherlands. Dechra Pharmaceuticals (OTC:DCHPF) and engineering company Meggitt (OTCPK:MEGGF -0.6%) are expected to replace them. Just Eat Takeaway.com's Grubhub recently rolled out a robot delivery concept on Ohio State's campus.

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Morrisons expected to enter FTSE 100 amid takeover bids