LPNEWS
US private equity firm Apollo Global Management said on Tuesday that it is in provisional talks to join a consortium takeover bid for Britain’s fourth biggest supermarket Morrisons. Apollo added in a statement that it has also decided not to make its own independent offer for the UK grocery chain. Morrisons had earlier this month accepted a £9.5 billion (€11bn) bid – including £3.2 billion in debt – from investment groups comprising Softbank-backed Fortress, Canada Pension Plan Investment Board and Koch Real Estate.

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