US Firm Considering Counter Offer for Morrisons

July 5, 2021
Suraj Jaiswal
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Source: BBC
US Firm Considering Counter Offer for Morrisons
A US investment firm is considering making a counter offer for Morrisons, days after the UK supermarket agreed to a £6.3bn ($8.7bn) takeover.

A US investment firm is considering making a counter offer for Morrisons, days after the UK supermarket agreed to a £6.3bn ($8.7bn) takeover.

Apollo Global said it was considering the move, but no approach has yet been made to Morrisons.

On Saturday, Morrisons accepted a bid by another US investment group led by the owner of Majestic Wine.

The offer is subject to shareholder approval, but the chain is recommending it is unanimously voted for.

Morrisons has nearly 500 shops and more than 110,000 staff in the UK.

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News Source: BBC

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