Good morning. A third private equity group has expressed interest in a bid for Morrisons, after it accepted a £9.5bn takeover offer over the weekend.
Apollo said it was “in the preliminary stages of evaluating a possible offer for Morrisons” but that no approach had been made.
On Saturday the supermarket’s board recommended a takeover bid by a consortium led by Fortress. Two weeks earlier it rejected an unsolicited bid by Clayton Dubilier & Rice.
5 things to start your day
1) Sainsbury’s cuts prices in war with Aldi and Lidl. The grocers says the introduction of the Aldi price match pledge is “already making a significant difference”.
2) House-buyers return to prime London areas. Prices in sought-after London suburbs soared in June after the exodus from the capital was reversed as lockdown eased.
3) Centrica ready to put £1.6bn into hydrogen storage site. The site, roughly 18 miles off the coast of Yorkshire, could create 3-4,000 jobs during construction.
4) John Lewis to build 10,000 new homes. Staff could be offered discount rents with tenants given the option to…
