Apollo mulls bid for British supermarket chain, taking on SoftBank-backed Fortress


NEWPORT, WALES, UNITED KINGDOM – 2021/01/09: A shopper seen pushing her groceries outside Morrisons supermarket in Wales.

May James/SOPA Images/LightRocket via Getty Image

WM Morrison, Britain’s fourth-largest supermarket chain, could be about to become the target of an international bidding war.

Apollo Global Management announced Monday it was mulling a rival bid for the retailer after it agreed an $8.7 billion takeover deal with SoftBank-owned Fortress Investment Group. 

In a statement, Apollo said it was in the preliminary stages of evaluating a potential bid but had yet to approach Morrisons’ board. 

On Saturday, the board recommended a 254 pence per share ($3.52 per share) cash offer…


VW and Porsche agree to Bugatti joint venture with EV company Rimac

Previous article

Market expectations for recovery too optimistic, analyst says

Next article

You may also like

Leave a Reply

Notify of

More in Finance