Shares in Morrisons jumped 11% after the private equity group Apollo said it was considering joining the battle to buy the UK supermarket chain.

Apollo became the third potential suitor to declare an interest in Morrisons, announcing to the stock exchange on Monday that it was “in the preliminary stages of evaluating a possible offer for Morrisons”, in a move that could trump a £6.3bn bid by a consortium led by the US investment fund Fortress, the owner of Majestic Wine.

The news sent Morrisons shares up more than 11% to 267p on Monday morning, making it the top riser on the FTSE 250 and putting it above a 254p a share bid from Fortress over the weekend.

Read more/Source: The Guardian