Walmart Said Seeking September Bids for $10 billion U.K. Arm

  • Walmart (NYSE:WMT) has asked suitors for its U.K. grocery division Asda to enter second-round bids by early September, Bloomberg reported, citing people familiar with the matter, as it moves forward with a relaunched sale.

Image of Walmart (WMT) logo on Walmart store with clear blue sky in the background
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  • Apollo Global Management, Lone Star Funds and TDR Capital are contemplating issuing binding offers by the deadline, the people said.
  • Asda could fetch around $10 billion in any sale, according to the people. Other possible buyers could also emerge, the people said.
  • Earlier this week, InvestorPlace contributor Dana Blankenhorn wrote that the retailing giant, “is in full retreat, which doesn’t help the bullish case for Walmart stock.” He noted that the company “is also trying to get out of England. It wants $9 billion for the Asda supermarket chain, which it bought 20 years ago.”


Article printed from InvestorPlace Media, https://investorplace.com/2020/07/walmart-said-seeking-september-bids-for-10-billion-u-k-arm/.

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