US private equity fund drops out of race to acquire Asda

// US private equity fund Lone Star drops out of race to acquire Asda
// Lone Star was unable to match price expectations of Asda’s US owner Walmart
// Apollo and Lone Star were the frontrunners after Walmart restarted an auctionAsda has reportedly seen US private equity fund Lone Star Funds drop out of the race to acquire it, which places Apollo Global Management in pole position to take control of the supermarket.
Lone Star was unable to match price expectations of Asda’s US owner