×
1 349
Fashion Jobs
PETER ALEXANDER
Stock Coordinator - Full Time - Peter Alexander nz - Sylvia Park
Permanent · Auckland
SPORTS GIRL
ea to General Manager – Sportsgirl
Permanent · Melbourne
DAVID JONES
Business Process Analyst
Permanent · Melbourne
DAVID JONES
Art Director- Trenery
Permanent · Melbourne
PUMA
Territory Manager - Cobra
Permanent · Sydney
PUMA
Warehouse Manager
Permanent · Moorabbin
DAVID JONES
Womenswear Merchandise Planner - Contract
Permanent · Melbourne
JUST JEANS
Stock Coordinator - Part Time - Just Jeans nz - Hornby Dfo
Permanent · Christchurch
DAVID JONES
Traffic Manager - Creative- Country Road
Permanent · Melbourne
DAVID JONES
Visual Merchandising Manager - David Jones Wollongong
Permanent · Sydney
ESTEE LAUDER
Clinique - Consultant - Central Coast Kotara - Part Time
Permanent · Central Coast
THE JUST GROUP
Operations Manager
Permanent · Melbourne
ESTEE LAUDER
Clinique - Consultant - Carousel - Part Time
Permanent · Melbourne
DAVID JONES
Project Manager - Country Road Group
Permanent · Melbourne
DOTTI
Supply Coordinator - Dotti
Permanent · Melbourne
DAVID JONES
Loss Prevention Officer – David Jones Elizabeth Street
Permanent · Sydney
DAVID JONES
Loss Prevention Opportunities - David Jones Melbourne
Permanent · Melbourne
DAVID JONES
Operations Manager - David Jones Doncaster
Permanent · Melbourne
DAVID JONES
Loss Prevention Manager - David Jones Canberra Centre
Permanent · Canberra
DAVID JONES
Loss Prevention Opportunity - David Jones Queens Plaza
Permanent · Brisbane City
JUST JEANS
Supply Coordinator - Just Jeans
Permanent · Melbourne
ESTEE LAUDER
Clinique - Consultant - Myer Fountain Gate - Ppt
Permanent · Melbourne
Published
Jul 20, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Morrisons potential bidder won't go solo, in talks to join rival bid group

Published
Jul 20, 2021

The prospects of an all-out bidding war for UK supermarkets giant Morrisons have receded with news that one of the private equity groups that was interested in it won’t be making a bid on its own.


Photo: Sandra Halliday



Morrisons operates one of the ‘big four’ UK supermarket chains, has supply deals with Amazon and also makes the growing Nutmeg clothing range.

US-based Apollo Global Management has said it’s not making a solo bid but it’s in talks to join the Fortress Investment Group-led consortium. That group had already made a  £6.3 billion ($8.6 billion) offer that the Morrisons board has backed.

Apollo’s move makes the takeover even more likely and would mean that two of the UK's four largest supermarket chains would be owned by private equity groups, following the recent takeover of Asda. The two largest chains – Tesco and Sainsbury's – remain stock exchange-listed businesses.

Apollo, which has also invested in ambitious watches and jewellery retailer Watches of Switzerland, had said it was evaluating a potential bid earlier this month.

Morrisons shares fell slightly on Tuesday after news that it wouldn't make a solo bid was released. That leaves Clayton, Dubilier & Rice (which had approached the supermarket chain with a quickly-rejected offer in June) as the only other known potential rival bidder. But there has been speculation that Amazon could enter the race, although the American online retail giant has said nothing so far.

Given the likelihood that Morrison's will be taken over, there remain huge concerns about jobs at the chain and UK politicians have also said they're worried that another of the major food suppliers in the country would fall into private equity hands.

Fortress has made plenty of positive noises in an effort to allay these fears. It said it would retain the current management team (which has been responsible for deepening the Morrisons dive into the clothing sector), keep its existing strategy and head office and won't sell off its valuable freehold stores in order to make a quick profit.

Copyright © 2022 FashionNetwork.com All rights reserved.