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Shareholder suggests more commitments needed before agreeing Morrisons sale
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Shareholder suggests more commitments needed before agreeing Morrisons sale
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Sainsbury s shares soar on rumors Apollo is weighing up a £7bn offer
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Morrisons shareholder LGIM says new bids closer to true value
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But that remained above the 254p-per-share offer put forward by Fortress and its consortium – suggesting shareholders believe a higher offer may still materialise.
Fellow US private equity firm Clayton, Dubilier & Rice, which had its £5.5billion offer rejected last month, is pondering a second approach, while analysts believe Amazon is another potential contender.
But Apollo yesterday confirmed it was in the preliminary stages of discussions, which may result in Apollo forming part of the investment group led by Fortress .
A spokesman for the buyout firm said: As a consequence of these discussions, Apollo does not intend to make an offer for Morrisons other than as part of the Fortress offer.