LONDON, July 20 (Reuters Breakingviews) - The future of WM Morrison Supermarkets (MRW.L) will become more certain if Apollo Global Management (APO.N) joins Fortress Investment’s 6.3 billion pound bid for the grocer. The U.S. buyout house said on Tuesday that it is no longer considering a solo bid for Britain’s fourth largest grocer, but may join a consortium led by SoftBank Group-owned (9984.T) Fortress as well as the Canada Pension Plan Investment Board and the real estate arm of Koch Industries read more . Clayton, Dubilier & Rice, whose 5.5 billion pound offer for Morrisons was rejected in June, won’t be amused. The buyout firm could yet raise its bid, but Fortress’s offer implies a humdrum 15% internal rate of return read more . And to get the grocer’s board on side it will have to hike the price and go beyond Fortress pledges such as keeping Morrisons’ headquarters in Bradford. These assurances admittedly only last for 12 months. But if CD&R wants to win, it will have to take on a more powerful team for a prize of diminishing appeal. (By Aimee Donnellan) On Twitter http://twitter.com/breakingviews Capital Calls - More concise insights on global finance: Unilever ties itself in knots over purpose read more Swedish duo flag lingering supply-chain freeze read more It’s harder to extract China insight from BHP read more Tencent places heavyweight bet on UK’s Sumo read more China hack backs White House into a corner read more
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