BUSINESS LIVE: Currys takeover bid; Hipgnosis makes claim against adviser; Morrisons plots price cuts

The boss of Morrisons has escalated the supermarket’s price war with Aldi and Lidl to win back customers.

Morrisons lost its status as Britain’s fourth biggest supermarket almost two years ago as shoppers switched to German discounters.

Last month, new CEO Rami Baitieh pledged to tempt disillusioned consumers, admitting there was “work to be done.”

Currys has rejected a 62p per share takeover offer from Elliot Advisors, as the electronics retailer’s board dismissed the US activist fund group’s bid as having “significantly undervalued the company and its future prospects”.

The offer was at a significant premium to Currys’ closing share price of 42.07p on Friday.