Apollo Weighs Offer for Morrison, Heating Up Takeover Battle

U.K. grocer accepted $8.7 billion bid from Fortress Group
Grocer’s pandemic resilience, real estate heighten appeal

Inside A WM Morrisons Supermarket — Photographer: Chris Ratcliffe/Bloomberg

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By Tasos Vossos and Thomas Mulier

July 5, 2021 at 4:00 AM UTC

Updated on

July 5, 2021 at 1:41 PM UTC

This article is for subscribers only.

Apollo Global Management Inc. said Monday it’s considering an offer for Wm Morrison Supermarkets Plc, heating up a takeover battle for the U.K. grocer.

Morrison had just agreed over the weekend to a 6.3 billion-pound ($8.7 billion) takeover from a consortium led by Fortress Investment Group. That offer trumped private equity firm Clayton Dubilier & Rice LLC’s 5.5 billion-pound bid, which the supermarket operator had rejected.