Morrisons shares jump 11% as Apollo considers launching bid – business live | Business

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The future of Wm Morrison hangs in the balance this morning, as the prospect of a full-scale bidding war for the UK’s third-largest supermarket chain breaks out.

Apollo Global Management, the US private equity group, has confirmed this morning that it is in the early stages of considering a bid — raising the possibility of a three-way battle for Morrisons.

Apollo told the City:

Apollo Global Management, Inc. (together with its subsidiaries, “Apollo”) notes the recent press speculation in relation to Morrisons and confirms that it is, on behalf of certain investment funds managed by it, in the preliminary stages of evaluating a possible offer for Morrisons.

No approach has been made to the Board of Morrisons. There can be no certainty that any offer will be made, nor as to the terms on which any…

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