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Sainsbury’s sees shares rise amidst Qatari takeover talks Tuesday, 25th September 2012
Photo credit: J Sainsbury plc
Speculation over renewed interest in Sainsbury’s drove shares up yet again as reports suggest Qatari investors are pursuing a fresh bid for the retailer.
The UK’s third largest supermarket saw shares rise 1.4p to 349.2p by mid-morning on Tuesday, as rumours the Qataris are in talks with representatives of the Sainsbury family sparked interest in the grocer.
It’s not the first time the Qataris have been linked to the iconic British firm. Back in 2007, the Qatari-backed Delta Two fund tabled a £10.6 billion or 600p a share bid for Sainsbury’s, before backing down due to effects of the recession. Now with a 26 per cent share in the supermarket, the Qataris are thought to be offering a deal in excess of £9 billion, or £5 a share.