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    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)

    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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