(Bloomberg) -- American investment firm Apollo Global Management Inc. is mulling a 3 billion-pound ($3.9 billion) takeover bid for U.K. roadside recovery service AA Plc, according to Sky News.
Apollo has told the AA board of its interest in making an offer for the company, Sky said. AA already confirmed talks with three other prospective bidders, with the approach from Apollo said to be less advanced.
The roadside recovery firm has debt of 2.65 billion pounds and is due to repay close to 1 billion pounds in the next two years, according to the report.
Shares in the company have fallen 43% since the end of last year. They closed at 32.85 pence on Friday.
