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April 10, 2008

UK: Sainsbury’s silent on renewed takeover talk

Sainsbury’s has remained silent on renewed market speculation that the UK retailer could still be a takeover target for Qatari-backed investment group Delta Two.

Sainsbury’s has remained silent on renewed market speculation that the UK retailer could still be a takeover target for Qatari-backed investment group Delta Two.

Delta Two decided not to pursue a takeover bid last year, after meeting staunch resistance from the retailer’s board and then largest shareholder, Lord Sainsbury.

Its failure triggered a six-month waiting period under the UK Takeover Panel rules, during which time it was prohibited from making another bid. This expires early next month.

According to rumours, Delta Two plans to raise its 25% stake before launching another takeover attempt.

When contacted by just-food today (10 April) Sainsbury’s said it was unable to comment on the rumours.

Delta Two was unavailable for comment as just-food went to press.

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