US investment firm, Apollo Global, is considering making a rival offer for Morrisons, just days after the UK supermarket brand agreed to a £6.3bn takeover deal.
Just days ago, Morrisons accepted an offer by US investment group Fortress Investment Group, owner of Majestic Wine, for a £6.3bn takeover deal. The takeover bid is still subject to shareholder approval; however the supermarket group’s directors are recommending that this is accepted.
Now, Apollo Global, another US investment firm, is considering making a rival offer however no approach has yet been made to Morrisons. This is the third firm to show an interest in the UK chain in two months, fuelling speculation of a bidding war.
In a short statement, Apollo, commented that it was: “in the preliminary stages of evaluating a possible offer for Morrisons. No approach has been made to the board of Morrisons. There can be no certainty that any offer will be made, nor as to the terms on which any such offer might be made.”
