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Monday, July 05, 2021

Blue Horseshoe Loves Morrisons

 

Apollo Global, a US investment firm is considering making a rival offer for Morrisons, days after the UK supermarket agreed to a £6.3bn ($8.7bn) takeover.

It is the third firm to show an interest in the UK chain in two months, fuelling speculation of a bidding war.

On Saturday, Morrisons accepted an offer by another US investment group led by the owner of Majestic Wine.

The takeover bid - led by US private equity firm Fortress Investment Group - is subject to shareholder approval, but the supermarket group's directors are recommending it is accepted.

Morrisons' shares are up 11% on the start of the day, and are trading at a three year high.

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