LONDON—The $8.7 billion bid battle for Britain’s Morrisons intensified on Monday when a third private equity group entered the fray, sending the supermarket group’s share price racing ahead of the value of an offer it recommended on Saturday.
New York-headquartered Apollo Global Management, which last year missed out on buying Morrisons rival Asda, said it was in the preliminary stages of evaluating a possible offer but had not approached its board.
