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Sainsbury's is the latest target of PE firms: report

Sainsbury's is the latest target of PE firms: report
A security guard (R) speaks with a member of the store team as they stand at the entrance to a branch of the Sainsbury's supermarket chain following the company's decision to enforce the mandatory wearing of face masks in their stores, on January 12, 2021 in London, United Kingdom.(Photo by Leon Neal/Getty Images)
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Kiran Paul
By Kiran PaulAug 23, 2021
Kiran Paul
With a background that spans both the agility of startup environments and the established presence of Asian Media Group, Kiran tries to bring a well-rounded perspective to his work. His career as a journalist began at a dynamic news startup, where he honed his reporting and storytelling skills for five years, gaining valuable experience in a fast-paced and evolving media landscape. Since 2018, he has been contributing to Asian Trader, where a standout feature of his work has been his in-depth interviews with award-winning retailers, which he transforms into insightful profiles that appear in each issue.
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Private equity companies are circling supermarket group Sainsbury's with a view to possibly launching bids of more than £7 billion, the Sunday Times reported.

American buyout giant Apollo is said to be running the rule over the supermarket group, the newspaper reported.

It remains in talks to join the Fortress-led consortium bidding for Morrisons and any involvement in that deal may preclude a move for Sainsbury's, the report said, adding Apollo's interest in Sainsbury's is exploratory.

Morrisons said on Thursday its board would unanimously recommend US private equity group CD&R's 285 pence a share offer worth £7bn and drop its previous recommendation for a £6.7bn bid from a consortium led by SoftBank owned Fortress.

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