Morrisons was at the heart of a bidding war last night as three US private equity firms jostled to buy the British supermarket.
Investment giant Apollo became the third buyout predator circling the chain yesterday after revealing it was considering a possible offer .
It came just 48 hours after Fortress made a £6.3billion takeover bid – beating the £5.5billion offered by rival Clayton, Dubilier & Rice (CD&R).
Apollo s intervention prompted Morrisons shares to surge above the price Fortress was offering yesterday – a sign that investors believe a bidding war will result in an even bigger sale price.
Morrisons was at the heart of a bidding war as three US private equity firms jostled to buy the British supermarket, with investment giant Apollo becoming the third buyout predator
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