One of the bidders in the battle for a supermarket group with a branch in Oswestry has pledged not to close any stores - if its bid is successful.

US buyout firm Clayton, Dubilier and Rice(CD&R) has indicated it has no plans to sell off any of Morrisons' property empire, with the group expected to make an improved cash offer for the supermarket this week.

A private equity bidding war for the UK supermarket company has intensified this month, after the board at Morrisons PLC recommended to shareholders that a £6.7 billion bid from Japanese owned Fortress Group was accepted.

Morrisons rejected a £5.5 billion bid from CD&R in June, saying it would have “significantly undervalued” the company, but the firm has until 5pm on August 20 to increase its offer.

Fortress themselves have previously said no stores would be sold, with the bid document saying the group "does not anticipate engaging in any material store sale and leaseback transactions".

Following its last increased bid, Fortress said it "remains committed to becoming the new owner of Morrisons and to being a responsible long-term steward of this great British company through the next stage of its evolution."

Morrisons property portfolio is considered attractive to investors as the company owns 86% of it's store freeholds - giving the winning bidder the opportunity to raise capital by selling off some stores and either closing branches or renting them back.

Morrisons was founded in 1899 by William Morrison, beginning as a humble egg and butter stall in Rawson Market, Bradford. Today the company has 494 stores and 110,000 employees in the UK.

Morrisons shareholders will meet on Friday, August 27 to vote on the Fortress offer. To pass, it would need the support of shareholders representing at least 75% in value of voting investors at the meeting.