In a statement published this morning, the private equity firm said: “Apollo confirms that it does not intend to make an offer for
Read more: Bidding war on the cards after
“Apollo Global Management confirms that it is in the preliminary stages of discussions with
“Should these discussions lead to any transaction, Apollo would be fully supportive of Fortress’s stated intentions regarding Morrisons.”
Morrisons’ share price dropped 0.14 per cent after the news broke.
The private equity firm moved to temper expectations that it will be joining the consortium led by Fortress in the statement.
The move is the latest development in a string of takeover approaches for the the UK’s fourth largest supermarket.
Earlier this month,
Rival private equity firms were reportedly considering submitting competing bids for the company after the news broke.
Clayton, Dubilier & Rice offered 230p-a-share for the supermarket before the Fortress-led offer was accepted.
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The post Apollo pulls out of
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