// Private equity firms have until today to make takeover offers for Asda
// Apollo & Lone Star are the front runners in preparing takeover offers for the Walmart-owned grocery chain
Asda could potentially have a change of hands as early as this week, a private equity firms scramble to finalise their takeover bids for the Big 4 grocer ahead of today’s deadline.
According to The Telegraph, Apollo Global Management and rival Lone Star Funds are preparing takeover offers for £6.5 billion supermarket chain that currently owned by Walmart.
The bids are reportedly due today.
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Both firms had called on the help of retail veterans former Debenhams boss Rob Templeman and former Asda boss Paul Mason respectively, to help advise on their takeover offers.
The Telegraph also highlighted potential interest from a third bidder such as the owners of EG Group, the Issa brothers.
Walmart is expected to maintain a minority stake in Asda if a private equity sale proceeds.
The process to sell Asda was launched after a £12 billion merger with rival Sainsbury was blocked by the CMA in 2019.
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