Sainsbury’s, the UK retailer, is rumoured to be the subject of another takeover bid from the Qatar Investment Authority (QIA).

The retailer’s share price was up 12.80p, or 3.86% at 11:28 BST today (7 July), following speculation that the QIA, the company’s largest shareholder, could up its stake.

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The rumours come nearly three years after the QIA launched a bid for the supermarket chain but then backed away, blaming the credit crunch.

According to The Daily Mail, the QIA may soon increase its stake in Sainsbury from 26% to 29.9% prior to making a cash offer for the whole business of GBP5 (US$7.56) a share.

Meanwhile, The Daily Telegraph said there is speculation of a bid for Sainsbury’s at GBP5.5 a share.

Commenting on the potential takeover RBS analyst Justin Scarborough said: “The Sainsbury business model has developed further since the QIA walked away in November 2007, and that the original reasons for the QIA to bid still hold today.”

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