Former chief executives of Debenhams and Asda are understood to be working with private equity groups on a bid for the supermarket chain.
Rob Templeman, who previously ran Debenhams as a private and publicly listed business, is on board with Apollo Global Management as it weighs up an offer for Walmart-owned Asda, Sky News reported.
And Lone Star Funds is working with Paul Mason on a potential bid for Asda, which he ran before heading to Matalan, Somerfield and then chairing retailers including Cath Kidston and Dr Martens
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