The former boss of Debenhams has been hired to manage a £6.5billion takeover of the UK's third largest supermarket. Ex chief executive Rob Templeman is working with investment firm Apollo Global Management for a multi-billion takeover, according to Sky News.
Lone Star Funds, another private equity bidder, has enlisted Paul Mason, who served as Asda's chief executive 20 years ago, to table an offer for the supermarket.
It comes a month after the grocer's owner, Walmart, announced it's back in talks to sell its majority stake in Asda after the UK's competition watchdog blocked a £10billion deal with Sainsbury's last year.
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