Jul 20, 2021

Apollo in talks with Fortress over Morrisons deal

Apollo Global Management is in talks to join forces with Fortress Investment group over the recommended offer for Wm Morrison, Britain's fourth-largest supermarket chain. A trio of private investment groups led by SoftBank-owned Fortress this month struck a £9.5bn deal to acquire the supermarket chain. Apollo had said it was also looking at Morrisons, sparking the possibility of a bidding war for the supermarket. On Tuesday Apollo said it was no longer considering its own offer but was instead in talks to join the investment group led by Fortress. "Apollo notes Fortress's intentions regarding the Morrisons business and all its stakeholders," the statement said.

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