Walmart’s Asda Attracts Bids from Buyout Firms
Walmart is moving forward with its plan to sell Asda, its U.K. supermarket chain. Three buyout firms are bidding on the chain, including Apollo Global Management, Lone Star Funds, and TDR Capital. The first two in particular have a history of seeking beleaguered companies to buy at a low price and make a profit on the turnaround.
No final decisions have been made, and Walmart could decide to keep the business for longer if bids don’t meet its expectations, according to the people.