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Apollo Global Management is in talks to partner with Fortress Investment in its proposed offer at Wm Morrison, Britain’s fourth-largest market.
The three financial groups led by FortBank owned by Fortress this month entered into a $ 9.5bn deal to find a market to sell. Apollo said it was also looking into Morrison, which led to a war on supermarkets.
But on Tuesday Apollo said he was no longer considering his contributions but was instead negotiating to join a financial group led by Fortress.
Fortress-led overseeing Morrison’s £ 6.3bn increase before adding $ 3.2bn to total debt.
“Apollo sees Fortress’s intentions in relation to Morrison’s business and all its affiliates,” the statement said. “If the talks can sell anything, Apollo would fully agree with what Fortress said about Morrison.”
According to an agreement unveiled on July 4, Fortress, Canadian pension fund CPPIB and the Koch Industries division will provide 252p one share and support a special 2p section purchasing grocer.
The deal came two weeks after the Bradford-based group said it had rejected a 230p-a-share request from Clayton, Dubilier & Rice.
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