- Private equity investor Apollo Global Management said it was considering making a rival bid for supermarket group Morrisons, which already has endorsed a £6.3 billion offer led by Fortress.

Appollo said it had noted recent press speculation in relation to Morrisons and confirmed that it was, on behalf of funds it manages, in the 'preliminary stages' of evaluating a possible bid.

'No approach has been made to the board of Morrisons,' Apollo said.

'There can be no certainty that any offer will be made, nor as to the terms on which any such offer might be made.'

Fortress, owned by Japan's Softbank, was joined in its bid by Canada Pension Plan Investment Board and Koch Real Estate Investments.

Their offer of 254p per share trumped a previous offer from Clayton, Dubilier & Rice at 230p per share.

Appollo hasn't said it how much it might bid for Morrisons.

Fortress confirmed the offer that it's leading included 252p cash per share plus a 2p special dividend and represented a 42% premium to Morrisons' closing price on 18 June.

Morrisons chairman Andrew Higginson said the Fortress offer represented a 'fair and recommendable price for shareholders' which recognised the company's prospects.

'It's clear to us that Fortress has a full understanding and appreciation of the fundamental character of Morrisons,' he said.

'This, together with the very clear intentions they have set out today, has given the Morrisons directors confidence that Fortress will support and accelerate our plans to develop and strengthen Morrisons further.' Story provided by