Business News

Apollo sees it as nonsense in Morrison


The independent Apollo group is reviewing the sale of Wm Morrison, a UK stock exchange that has already approved Buying £ 9.5bn led by Fortress, an economic opposition group.

Apollo, who otaika Last year in the fight for the Asda grocery war, he said in a statement Monday that he was “the first to evaluate the possibility” of the London-based company.

The US-based private equity firm is the most recent group around Morrison, which denied last month that Clayton, Dubilier & Rice received a Fortress-led request over the weekend.

Morrison’s secret interest comes as a result of intense interest among them shopping groups for UK companies, whose accountability has been hampered by Brexit and the coronavirus crisis.

Shares in the UK’s fourth-largest retailer market gained 11% to 266.5p in sales since Monday – at a higher price point, set at 252p, indicating that traders believe there will be another demand.

Apollo said he had not approached the Morrison board, led by Andrew Higginson. “It cannot be guaranteed that any donations will be made, and depending on how the donations can be made,” the New York-based group added.

The Morrisons, who lives in Bradford, said last weekend they had secured a $ 9.5bn deal with Fortress owned by SoftBank along with Canadian pension fund CPPIB and part of Koch Industries.

The deal agreed to include a 2p-a-share component and appreciated Morrisons ’£ 6.3bn pre-inclusion and $ 3.2bn total debt.

Advertisers also promised more futures for Morrison, who came from a market that opened in 1899. They said they wanted to renovate the company’s headquarters in West Yorkshire, save pensions and save £ 10 an hour for low working wages.

The Clayton, Dubilier & Rice version was delivered at 230p per session.


Source link

Related Articles

Leave a Reply

Back to top button