Apollo Global Management Mulls Bid for Morrison Supermarkets -- Update

By Sabela Ojea

Apollo Global Management Inc. said Monday that it is in the preliminary stages of making a possible offer for Wm. Morrison Supermarkets PLC.

The New York firm said that it hasn't yet approached the board of the British grocer, adding that there can be no certainty that any offer will be made.

The terms of a potential offer aren't yet finalized, the company said.

On July 3, a group of investors led by SoftBank Group Corp.'s Fortress Investment Group LLC agreed to buy the grocery chain for more than $8.7 billion.

On June 21, Morrisons said that it had rejected a $7.7 billion offer proposal made by U.S. private-equity group Clayton Dubilier & Rice LLC.

Write to Sabela Ojea at [e-mail]; @sabelaojeaguix

(END) Dow Jones Newswires

07-05-21 0307ET