UK grocery retailer Morrisons has been linked with a takeover bid for online grocery retailer Ocado, according to reports.

Shares in the online grocer floated at 180p in July but soon fell to 121p over concerns about its business model and a reliance on its partnership agreement with Waitrose.

However, according to the Daily Mail, shares in Ocado were up 4.1% to 144.7p yesterday (25 November) on gossip that Morrisons is lining up a cash bid for the company.

While Ocado has continued to post healthy sales growth, it is yet to record a profit.

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By GlobalData