A US private equity giant is mulling a buyout of Marks & Spencer.
New York-based Apollo Global Management reportedly considers it a bargain and that the market has undervalued its online delivery venture with grocery giant Ocado, in which it bought a 50 per cent stake in 2019 for £750m.
Height of fashion: Supermodel Rosie Huntington-Whiteley models for Marks & Spencer
However, it is not yet clear whether a recent surge in M&S shares, which have risen by 24 per cent on upgraded profit forecasts, has dampened Apollo’s appetite, The Sunday Times reported.
A private equity bid would likely attract scrutiny as the business – for whom supermodel Rosie Huntington-Whiteley models – shows signs of looking up.
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