Could Sainsbury's be next for a takeover bid?

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3 年前

Private equity companies are circling British supermarket group Sainsbury's.

According to the Sunday Times, firms are considering launching bids of more than $9.5 billion.

The paper reported that U.S. buyout giant Apollo is running the rule over the supermarket group.

It also remains in talks to join the Fortress-led consortium bidding for rival UK supermarket Morrisons.

And any involvement in that deal could reportedly preclude a move for Sainsbury's.

Morrisons said on Thursday (August 19) its board would unanimously recommend U.S. private equity group CD&R's offer worth $9.5 billion.

And drop its previous recommendation for a bid by a consortium led by SoftBank-owned Fortress.

Sainsbury's shares jumped as much as 11 percent in Monday morning trade.