Sainsburys shares rise amid bid rumours
 
Thu, 15th October 2009
 
 

Sainsbury's shares rise amid bid rumours

15 October, 2009 | By Jennifer Creevy

Sainsbury's shares have risen by as much as 20% amid speculation that the Qatari Investment Authority was planning a renewed offer for the grocer.

Rumours have been circulating the City that QIA, which currently owns a 26% stake in Sainsbury's, was interesting in renewing a bid after pulling away from an offer of £10.5bn for the company two years ago.

According to Reuters, traders reported rumours of a possible offer at 420p a share and that former Barclays banker Roger Jenkins was broking a deal.

Sainsbury's declined to comment.

 
 
category Retail  |  source Retail Week News
 
   
 
 
 
 
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