Renewed speculation that Sainsbury’s could be the object of a takeover bid has boosted shares in the UK retailer.
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The market was flooded with a rumour that a bid of GBP5 per share is being prepared yesterday (28 August), although the source of the potential bid remains unclear.
If such a bid were to go ahead, it would value Sainsbury’s at approximately GBP8.85bn.
Shares in the company have increased from a close of GBP3.1875 on Wednesday, before the rumour surfaced, to GBP3.53 at time of press.
A spokesperson for Sainsbury’s told just-food that the company was unable to comment on “rumour and speculation”.
Last November, Qatari investment fund Delta Two pulled out of a planned GBP10.6bn bid for the grocer, citing worsening credit markets and the difficulty of securing the support of the company’s pension trustees.
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