Private equity companies are circling British supermarket group Sainsbury’s with a view to possibly launching bids of more than $9.53bn, The Sunday Times reported.
American buyout giant Apollo is said to be running the rule over the supermarket group, the newspaper reported.
It remains in talks to join the Fortress-led consortium bidding for Morrisons and any involvement in that deal may preclude a move for Sainsbury’s, the report said, adding Apollo’s interest in Sainsbury’s is exploratory.
Subscribe to our Newsletter to increase your edge. Don’t worry about the news anymore, through our newsletter you’ll receive weekly access to what is happening. Join 120,000 other PE professionals today.
British supermarket group Morrisons said on Thursday its board would unanimously recommend U.S. private equity group CD&R’s 285 pence a share offer worth 7 billion pounds and drop its previous recommendation for a 6.7 billion pound bid from a consortium led by SoftBank owned Fortress.
Source: US News Today
Can’t stop reading? Read more
Waterland backs TG Group to fuel global expansion and bolt-on growth
Waterland backs TG Group to fuel global expansion and bolt-on growth Waterland Private Equity has...
TA Associates nears $500m stake acquisition in secondaries firm Kline Hill Partners
TA Associates nears $500m stake acquisition in secondaries firm Kline Hill Partners TA Associates...
Morgan Stanley unveils private equity fund targeting high-net-worth investors, eyes multi-billion dollar raise
Morgan Stanley unveils private equity fund targeting high-net-worth investors, eyes multi-billion...