Morrisons could become subject to a bidding war as New York hedge fund Apollo mulls offer
New-York based asset manager Apollo Global Management confirmed that it is “in the preliminary stages of evaluating a possible offer for Morrisons” on behalf of investment firms managed by Apollo.
It added that no formal approach has yet been made to the board of the Bradford-based chain.
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Hide AdThe interest from Apollo comes two days after Morrisons told investors it had agreed a £6.3 billion bid from a consortium of investment groups.
The offer, led by Softbank-owned Fortress which has partnered with Canada Pension Plan Investment Board and Koch Real Estate Investments, will see shareholders receive 252p per share plus a 2p special dividend.
The agreement came almost two weeks after private equity firm Clayton, Dubilier & Rice (CD&R) made an approach last month.
In a statement on Monday, Apollo said: “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.”