Private equity giants go into battle for Asda

Two industry veterans are poised for battle as they lead rival bids for grocer Asda in a £6.5bn deal. Rob Templeman, a former chief executive of Debenhams, is working with Apollo Global Management on one bid. Meanwhile, Lone Star Funds, another private equity bidder, is using former Asda boss Paul Mason to table its bid, Sky News first reported. Walmart, the supermaket's US owner, has restarted talks with existing bidders after it paused discussions when the pandemic hit. The sale process