Private-equity group Apollo leads £6.5bn race to buy Asda

Two bidders in running to snap up Walmart-owned chain as Lone Star drops outThe private-equity firm Apollo Global Management is thought to have edged into the lead in the £6.5bn bidding war for Asda after its rival Lone Star Funds dropped out.It is believed that a third bid from private equity firm TDR Capital remains in the running – the group is understood to have been working on a deal with the billionaire Issa brothers, who are behind the British forecourts operator EG Group. Con