Apollo Global Management, Inc. (NYSE:APO), which confirmed it was considering a bid for Wm Morrison Supermarkets PLC (LSE:MRW) earlier this month, said on 20 July 2021 that it will no longer be making an offer for the supermarket. It added that it is in early discussions to team up with another private equity firm, Fortress, which has made an agreed $8.7 billion offer for Morrisons. In a statement, Apollo said it "would be fully supportive of Fortress's stated intentions regarding Morrisons.” Fortress, which is part of a consortium that also includes the Canada Pension Plan Investment Board and Koch Real Estate Investments, has sought to counter concerns that it intends to asset-strip Morrisons and reduce workers' rights.

It has stated its intention to keep Morrisons' management team in place and has pointed to its actions since buying Majestic Wine in 2019.