Shareholder suggests more commitments needed before agreeing Morrisons sale eveningtelegraph.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from eveningtelegraph.co.uk Daily Mail and Mail on Sunday newspapers.
Shareholder suggests more commitments needed before agreeing Morrisons sale eveningexpress.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from eveningexpress.co.uk Daily Mail and Mail on Sunday newspapers.
Sainsbury's shares soar on rumors Apollo is weighing up a £7bn offer dailymail.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailymail.co.uk Daily Mail and Mail on Sunday newspapers.
Morrisons shareholder LGIM says new bids closer to true value reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
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.