The UK opposition Labour Party has called on the government to confirm that it will intervene in a possible private equity takeover of supermarket group Morrisons in order to obtain binding commitments on the buyer’s business plan, on jobs and on pensions.

Morrisons, Britain’s fourth largest food retailer after Tesco, Sainsbury’s and Asda, said it had rejected a € 6.4 billion cash bid from US private equity company Clayton, Dubilier & Rice (CD&R). Under the UK takeover rules, CD & R has until 17 July to make a final offer or withdraw.