Trending News

Blog Post

Market

Private equity firms circling Sainsbury’s with view to launch bids 



© Reuters. FILE PHOTO: Signage for Sainsbury’s is seen at a branch of the supermarket in London, Britain, January 8, 2020. REUTERS/Toby Melville/File Photo

(Reuters) – Private equity companies are circling British supermarket group Sainsbury’s with a view to possibly launching bids of more than 7 billion pounds ($9.53 billion), The Sunday Times reported.

American buyout giant Apollo is said to be running the rule over the supermarket group, the newspaper reported https://

It remains in talks to join the Fortress-led consortium bidding for Morrisons and any involvement in that deal may preclude a move for Sainsbury’s, the report said, adding Apollo’s interest in Sainsbury’s is exploratory.

British supermarket group Morrisons said on Thursday its board would unanimously recommend U.S. private equity group CD&R’s 285 pence a share offer worth 7 billion pounds and drop its previous recommendation for a 6.7 billion pound bid from a consortium led by SoftBank owned Fortress.

($1 = 0.7342 pounds)

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

Related posts

Leave a Reply

Required fields are marked *