Singapore’s sovereign wealth fund GIC has joined a private equity-led consortium bidding for UK supermarket chain Morrisons (The Financial Times £). Newest addition to the SoftBank-owned syndicate fuels speculation it will raise its bid in wake of biggest shareholder’s opposition (The Telegraph). GIC said yesterday that it would provide £100m of funding towards the £6.2bn offer for Morrisons (The Times £). The US private equity firm seeking to take over Morrisons was fighting a rearguard action after a second shareholder came out against its £9.5bn bid (The Telegraph). Fortress is scrambling to get back on the front foot after top ten investor JO Hambro said that its 254p a share offer was t... [Read more]